John Denham, Labour’s Shadow Business Secretary, commenting after David Cameron's speech today on regional growth, said:
“David Cameron today confirmed he was abandoning hard hit regions to their fate, demonstrating once again that this Conservative-led Government has no real plan for growth and jobs.
"At a time of rising unemployment and economic uncertainty we need David Cameron to set out a clearer plan on where the jobs of the future will come from.
“The reality is that funding for regional growth has been cut by two-thirds and the creation of the new Local Enterprise Partnerships is, in the words of the Business Secretary himself, “chaotic”, leaving large areas of the country with no effective organisation to drive forward growth.
“After eight wasted months of inaction on bank lending, David Cameron’s words today will offer little consolation to those businesses up and down the country that were dealing with rising costs even before this week's VAT rise."