LIBERAL DEMOCRATS CREATE £1BN FUND FOR COMMUNITIES HIT BY CUTS

12.20.14pm BST (GMT +0100) Wed 30th Jun 2010

St Austell & Newquay's Liberal Democrat MP, Stephen Gilbert, has welcomed the announcement of a £1bn Regional Growth Fund to help communities that may be particularly affected by public spending cuts.

The fund was launched by Liberal Democrat Leader and Deputy Prime Minister, Nick Clegg, after the first regional Coalition Cabinet meeting held in Bradford.

Commenting Stephen Gilbert MP said:

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

"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 Cornwall and provide more business support, encourage entrepreneurs and protect jobs."

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."