The chancellor has paved the way for new local enterprise partnerships to replace regional development agencies (RDAs).
George Osborne used the Budget to set out plans to refocus the regional economy in Britain with a new fund, but it will include private sector involvement – effectively ditching RDAs.
The Conservatives had signalled they would abolish RDAs, but came under pressure from some councils, so a compromise will leave local areas able to decide how they go forward.
