£50m to help with economic recovery

Date published: 18 March 2010

An extra £50 million is being given to councils to help them make strides toward economic recovery in their local area.

The funding is being allocated to all areas of the country from the Local Authority Business Growth Incentives (LABGI) scheme that rewards councils which successfully promote local growth.

John Denham is clear that vital public sector support at this time can lessen the impact for struggling families and businesses. He wants to see councils use this grant to help small and new businesses in hard hit areas who often need extra support to get through the tougher times so they can hit the ground running as economic growth picks up.

Communities Secretary John Denham said: "Local councils, and councillors, with their unique democratic mandate, are best placed to provide financial support and local services that are responsive to the pressures being felt by families and businesses in local areas."