PositionGovernment Activity - International Pages - Brief Article

South Yorkshire. The region, which is eligible under Objective 1 for the first time, will benefit from European funds totalling over Euro 1.17 billion over the coming seven years (previously it enjoyed aid under Objectives 2, 3 and four for more than 10 years). The funds are aimed at arresting the decline of the region (a steep decline in the traditional coal and steel sectors), laying the foundation for substantial and lasting economic development. The six main priorities of the programme will seek to promote a restructuring of the regional economy away from its dependence on traditional sectors towards high growth sectors that can provide sustainable job opportunities. Efforts will be concentrated on creating an environment for successful businesses, encouraging innovation, harnessing the benefits of information technology and developing the culture of the "learning region". West Wales and the Valleys.Previously eligible under Objective 2 and 5b, this is also the first time the region qualifies for Objective 1 aid under the Structural Funds. Earlier dependent on mining activities and still affected by the reform of the farm sector, the region's economy is continuing to undergo a major process of restructuring. Again, much of the new strategy will attempt to promote the growth of the SME sector and to encourage innovation. This will be supported by action to raise the level of qualifications of the workforce and promote employability. Community economic regeneration, rural development and the sustainable use of natural resources will also be targeted. The region will benefit from EU structural funds totalling some Euro1.85 billion over the next seven years.Merseyside.The only one of the four regions to have benefited from Objective 1, Merseyside now has one of the lowest per capita GDPs in the UK. It also suffers from high levels of social...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT