Concern Grows for Massive Jobs Fund ; Cash May Be Clawed Back After Changes

Summary

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AMULTI-MILLION pound jobs fund could be hit if a Conservative Government scraps the region's European voice. Spending bosses at the European Commission have guaranteed a pounds 300m jobs fund for the region to allocate by 2013. But strict spending rules mean any delay in handing out the cash could see millions of pounds clawed back.

The warning comes as the Conservatives firm up plans to scrap development agency One North East and replace it with a series of smaller local enterprise partnerships. Staff at One North East are currently tasked with spending the cash, but officers there are increasingly worried for their jobs as the Conservatives continue to state they will scrap quangos and regional development agencies.

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Concern Grows for Massive Jobs Fund ; Cash May Be Clawed Back After Changes

Now European Commission staff have warned they expect there would be "some degree of chaos" if the Tories go ahead with ...

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