Labour: Regional growth fund money doesn’t amount to much

Shadow business secretary Chuka Umunna responds to the second round of successful bids for the coalition's regional growth fund:

"Power stations already in the pipeline are finally being given the green light, but no investment is actually being brought forward. And the long-delayed funding for projects through the regional growth fund is actually a two-thirds cut on what went before.

"This does not amount to the significant plan for jobs and growth Britain's economy desperately needs right now. Labour's five point plan for jobs includes genuinely bringing forward a substantial number of long-term investment projects, but also action to get young people into work, tax breaks to help small businesses expand and a VAT cut to help struggling families."