Regional Growth Fund

Department for Business, Innovation and Skills written question – answered on 20th October 2014.

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Photo of Chuka Umunna Chuka Umunna Shadow Secretary of State for Business, Innovation and Skills

To ask the Secretary of State for Business, Innovation and Skills, what proportion of the total funds allocated via intermediaries as part of the Regional Growth Fund have been drawn down in each round and was allocated via intermediaries to date.

Photo of Greg Clark Greg Clark Minister of State (Universities and Science), Minister of State (Cabinet Office)

£1.64 billion has been allocated to intermediaries across Rounds 1-5 of the Regional Growth Fund and exceptional Regional Growth Fund. The tables show how much of that money has been drawn down to date. All data are correct at 15 October 2014.

Round 1

Round 2

Round 3

Round 4

Round 5

Exceptional

Grand Total

RGF allocated to Programmes (£m)

179

452

561

246

184

16

1,638

RGF grant drawn down to date (£m)

178

392

296

78

0

6

951

The following table shows the planned RGF grant draw down timetable which has been agreed with these programmes.

RGF Drawn Down by year (£ million)

Financial Year

2011-12

2012-13

2013-14

2014-15

2015-16

2016-17

Total

Actual paid – year to date

418

72

286

175*

951

Planned for whole financial year

675

96

71

1,621

*This is the actual amount paid to beneficiaries as of 15 October 2014.

The difference between the totals in tables 1 and 2 arises because RGF applicants have not always claimed the full grant available to them.

More detail on which RGF programmes are still available for SMEs to bid into is available at https://www.gov.uk/regional-growth-fund-programmes-guide

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