Cable hails success of growth fund

Liberal Democrat Cabinet minister Vince Cable. Photo credit should read: Danny Lawson/PA Wire

Liberal Democrat Cabinet minister Vince Cable. Photo credit should read: Danny Lawson/PA Wire - Credit: PA

A fund aimed at creating jobs and boosting local economies across England has led to £4 billion of investment, the Government has announced.

The Coalition said its Regional Growth Fund had put more than £1 billion into the hands of businesses, with a further £3 billion from the private sector, supporting 8,000 companies.

The fund has created or safeguarded more than 100,000 jobs and is on track to meet a target of over half a million by the end of the decade, it was reported.

Business Secretary Vince Cable said: 'So far, the Regional Growth Fund has secured £4 billion investment in companies across England - this is a great achievement, helping people and businesses across the country and there is still more to come.

'It is proof that RGF is playing a pivotal role in developing innovative technologies, providing highly skilled jobs and giving businesses the confidence to invest in the UK.'


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Today, the minister will visit manufacturing firm AESSEAL in South Yorkshire, which received £1.7 million from the fund towards an £8.7 million expansion project.

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