Projects miss out on funds

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DOZENS of North regeneration projects will go unfunded, as figures reveal the region has asked for £339million from the Government’s vastly oversubscribed growth fund.

Ministers have hailed the regional growth fund as the key to keeping the economy going, after Business Secretary Vince Cable decided to scrap development agencies such as One Northeast.

But with just £250million available across England, it is likely Dr Cable will have to turn down many projects, which would have created thousands of jobs.

Last night critics said the figures showed how the demise of the regional leadership provided by One Northeast had made it more difficult to fund important projects.