The business department has put out a list of 119 successful bidders for £950m of public money through the regional growth fund. (A new vehicle which now plays part of the role of the wound-up RDAs.) On average this is more than £8m each.
The only downside is that you can’t see how much money each company or council is getting or – necessarily – what for. In fact there are 10 successful bids where no details whatsoever have been disclosed: even the names of the winning companies.
Officials say this will be resolved once the process of due diligence is completed. The restraint is due to “commercial confidentiality“, they insist.
The business department would not even say how much Sheffield Forgemasters has at last been lent – despite Nick Clegg today saying that the company will be able to borrow £36m.
It does seem as if the announcement has been rushed out at ministers’ behest to enhance the impression that the government is taking action on growth.
Jim Pickard
Kiran Stacey