Some regional development agency functions will be transferred to central government when they are abolished, business minister Mark Prisk has confirmed.
In a Commons written answer he said the Government, currently reviewing the future of RDA functions, believes some are best led nationally, including inward investment, sector leadership, responsibility for business support, innovation and access to finance such as venture capital funds.
Other functions would be scrapped, including regional strategies and the forthcoming white paper on sub-national economic growth would detail the approach.
No decisions have been made on what functions would transfer to local enterprise partnerships but the Government has written to each RDA detailing reductions in their 2010-1 budgets.
"This Department has also written recently to all its arms-length bodies with regard to new arrangements in relation to consultancy and marketing expenditure," he said.
