ECU 2.5 billion for industrial areas in the United Kingdom

A number of British regions in industrial decline (so-called Objective 2 regions) are to receive ECU 2.5 billion from the EU's Structural Funds to cope with industrial and structural change. The aid comes under a first set of programmes approved, in principle, by the European...

A number of British regions in industrial decline (so-called Objective 2 regions) are to receive ECU 2.5 billion from the EU's Structural Funds to cope with industrial and structural change.

The aid comes under a first set of programmes approved, in principle, by the European Commission on 26 February 1997. These programmes cover the following regions: West Midlands; Greater Manchester, Lancashire and Cheshire; Yorkshire and Humberside; North East England Western Scotland; Industrial South Wales; Eastern Scotland; East London and the Lee Valley; West Cumbria and Furness; Gibraltar.

Altogether, these programmes will help to create more than 150,000 jobs. The EU-aid is to be matched by national public expenditure of about ECU 2.8 billion while ECU 819 million will be coming from the private sector for a total investment of about ECU 6.2 billion. The approval of another three programmes, namely Thanet, Plymouth, East Midlands, is expected shortly.

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United Kingdom