HM Treasury

Budget

16 March 2005

Enterprise and economic opportunity in deprived areas: a consultation on proposals for a Local Enterprise Growth Initiative

Enterprise provides local authorities with a powerful way of pursuing economic development in deprived areas. However, levels of enterprise in deprived areas are significantly and persistently lower than in more affluent areas. The Chancellor of the Exchequer therefore announced a consultation on a Local Enterprise Growth Initiative in Budget 2005 to support enterprising activity and the creation of sustainable communities.

The Local Enterprise Growth Initiative (LEGI) will be worth £50 million in 2006-07, rising to £150 million per year by 2008-09 (subject to confirmation in the 2006 Spending Review), and will provide flexible, devolved investment in some of our most deprived areas to support locally-developed and owned strategies that try-out new or proven ways of stimulating economic activity and productivity growth through enterprise development. The consultation deadline is Wednesday 8 June.

"Enterprise and economic opportunity in deprived areas: a consultation on proposals for a Local Enterprise Growth Initiative" is available below in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website. For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.

Media links

 

Related links

Budget 2005 index

Back to top