Funding News November 2007

The Dept of Innovation, Universities and Skills has announced public funding of £1billion for business-led research and innovation. The fund includes £180million from the Regional Development Agencies, with the rest coming from the Technology Strategy Board and the Research Councils. The plan is a response to Lord Sainsbury’s review of the UK’s science and innovation system. For more details see The Race to the Top: A Review of Government’s Science and Innovation Policies on our publications section.
The European Commission has asked for more work to be done following allegations of poor management of European funds in Manchester. Six English regions had funds frozen in April, but most have had the suspension lifted. Following an investigation by the BBC it is alleged that the North West could face being fined tens of millions of pounds.
The Housing Minister has announced a £10.2billion fund package for the Regional Housing pot. The focus would be on increasing the supply of affordable housing and on improvements to private homes in deprived areas. For more details visit http://www.communities.gov.uk/news/corporate/513236
The Dept for Communities and Local Government has announced that there will be no more funding rounds for the Local Enterprise Growth Initiative, but that existing initiatives will continue. The scheme was set up in 2005 to boost enterprise in deprived areas.
The government is to give New Deal for Communities Partnerships £150,000 to train one hundred 15 to 21 year olds to help them influence local policies. The young people will be used as consultants to show councils, housing associations and other local partners how to engage young people.
The Northern Way, a government initiative to tackle the economic divide between the North and South of England will receive £45million from the government between 2008/9 and 2010/11
The Big Lottery Fund has given £2.5million to 11 organisations in England which bring adults and children together to improve their skills and knowledge. For more information see www.biglotteryfund.org.uk
The Northern Rock Foundation, which receives 5% of Northern Rock’s annual pre-tax profits, has issued a statement saying its trustees have decided that it would be “prudent to scale back their expenditure”. The foundation also said “grant payments will be made as scheduled”. For more details see www.nrtfoundation.org.uk
The Dept for Media, Culture and Sport has revealed that English Heritage will receive an increase in funding from £123.7million to £130.7million by 2010/11. The increase will be incremental, with an extra £1million in 2008/9, £2million in 2009/10 and £3million in the final year. For more details see www.culture.gov.uk