The government has announced plans to give the Yorkshire and Humber region £32 million, to reward its efforts to boost business growth.
Local government minister, John Healey, revealed the plans, stating that West Yorkshire council will receive £13 million, while South Yorkshire’s local authority will get £9 million.
Councils in the Humber and North Yorkshire will collect £5.5 million and £3.5 million, respectively.
The funds will be delivered under the Local Authority Business Growth Incentive (LABGI) scheme, which gives financial rewards to councils that promote economic progress in their areas.
It does so by allowing these local authorities to retain a share of increases in revenue derived from business rates.
Mr Healey said: "LABGI ensures that every council has a direct financial incentive to promote enterprise, jobs and local business growth, helping them to boost our country’s economic potential.
"This is the final year of the three-year LABGI scheme and my priority now is reform, with the aim of making it a permanent feature of the council funding system." /
In related news, cultural projects in Wakefield were awarded £17,000 in total this month by the local council.
|
