Business, Enterprise and Regulatory Reform written question – answered at on 9 February 2009.
To ask the Minister of State, Department for Business, Enterprise and Regulatory Reform with reference to the Written Ministerial Statement of 25 November 2008, Official Report, column 41W, on departmental expenditure limits (2008-09), for what reason there was a re-allocation of £2.5 million from the London Development Agency to the regional development agencies.
As part of the management of the "single pot" funding model, the regional development agencies (RDAs) and the London Development Agency (LDA) have the authority to agree "loans" between themselves, as a way of maximising the use of their overall budget allocation. This is often utilised to overcome issues around the timing of expenditure. Whilst there is no need to process such transactions between the RDAs generally (because they are all non voted), funds to the LDA are voted (because it is governed by the Greater London Authority) and any changes are, therefore, necessarily reflected in supplementary estimates.
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