the transfer of wealth, decision making and power from the provinces to London. It has gone on and on and it has certainly had an adverse effect. Something that has taken 50 or 60 years to make the profile of the British economy is not going to change in six months but it is important to recognise the imbalance and to pursue policies to do something about it.Which is why they are launching the Regional Growth Fund, chaired by the noble Lord and centrally based.
It now appears that part of the process on deciding on bids for a slice of the regeneration cake (now only a third of the size it was) will involve recommendations made to a ministerial panel, leaving the final decisions on the spending of £1.4 billion over the next three years firmly in the hands of the politicians. As Eric Pickles is on that panel, any bid involving pies can expect to be treated preferentially.