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MEP welcomes 'double' cash windfall for Yorkshire & the Humber
March 1, 2001 12:00 AM
Diana Wallis, Liberal Democrat MEP for Yorkshire & the Humber, has warmly welcomed the European Commission's approval to commit 518 million Euros (£328 million) in EU structural funding to the region over the next six years.
The funding will go to those areas in the region which have been designated as having "Objective 2" status, undergoing economic and social reconversion. A further 894 million Euros (£567million) from the public and private sectors will also be invested, making total spending rise to an impressive 1.4 billion Euros (£895m). The aim is to create more than 36,000 jobs in the region, specifically in North and West Yorkshire and in the Humber sub-region.
Commenting on the announcement, Diana Wallis MEP said, "this is a huge bonus to the region. We have fought long and hard to make the case for Yorkshire and the Humber given the economic difficulties the region has faced over the past few years. I'm delighted that such a large sum (one of the largest in the UK) will be made available."
The Commission also announced that it was backtracking from its previous veto on two joint UK regional development schemes - English Partnerships and the Partnerships Investment Programme which had run up against EU competition rules. This now means that sums of up to 32 million Euros (£20 million) will be freed up annually to support urban and rural regeneration projects.
"There are areas in South Yorkshire and Bradford which are desperately in need of monies for these kind of projects and were deeply disappointed when these two programmes were shut down. They can now go ahead and prepare for a brighter future which will help to bring in much-needed investment."
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