The Government has announced that Lord Heseltine will chair the Independent Approval Panel for the Regional Growth Fund, which is believed to total £1bn.
In a consultation Government is seeking views on how the fund should be designed to best meet the needs of areas and communities across England.
The new Panel will consider proposals for funding and recommend to Ministers which projects should be taken forward.
To join in the consultation, please open www.bis.gov.uk/Consultations/regional-growth-fund-consultation?cat=open
The Regional Growth Fund has been set up to provide support for projects that offer significant potential for sustainable economic growth and can create new private sector employment. It will aim to help areas and communities currently reliant on public sector employment make the transition to private sector led growth and prosperity. The fund was announced at Budget and will operate over two years.
To read the consultation document, click here.