Lib Dems create £1bn fund for communities hit by cuts - Huppert

July 1, 2010 11:24 AM

Julian HuppertA £1billion Regional Growth Fund which could give Cambridge companies more support, protect jobs and encourage entrepreneurs has been welcomed by the city's MP Julian Huppert.

He has described the launch of the fund by Deputy Prime Minister Nick Clegg as a vital step to promoting growth in Cambridge and the region generally.

"The reckless Labour government left the country nearly bankrupt, with an unprecedented challenge ahead," he said.

"The Coalition Government has had to make incredibly difficult choices, but the Liberal Democrats are helping ensure that no community gets left behind.

"We can now deliver a more focused approach in Cambridge and provide more business support, encourage entrepreneurs and protect jobs."

The city has one of the highest levels of public sector employment in the country with almost one in every two jobs being in a publicly funded organisation.

Speaking in Bradford after the first regional Coalition Cabinet meeting, Nick Clegg said: "The Regional Growth Fund will create the conditions for growth and enterprise by stimulating investment and creating sustainable private sector jobs.

"Alongside our commitment to waive some employment taxes for new businesses starting up in targeted regions of the country, this fund can make a real difference to companies during difficult times."

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