Department for Business, Innovation and Skills
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Details of sale and transfer of RDA assets and liabilities published

Details of sale and transfer of RDA assets and liabilities published

News Release issued by the COI News Distribution Service on 10 February 2011

Business and Enterprise Minister Mark Prisk has today published details of how Regional Development Agency (RDA) assets and liabilities will be sold and transferred over the coming months.

RDAs have developed detailed assets and liabilities plans setting out strategic options that will aim to achieve the best outcome for the local area whilst creating value for the public purse.

RDAs submitted these plans to the Department for Business, Innovation and Skills (BIS) on 31 January 2011.

Business and Enterprise Minister Mark Prisk said:

“It is our priority that the transition from RDAs to a new economic delivery landscape is as smooth, effective and efficient as possible.

“Part of this process is being clear to all interested parties about the precise process and the timeline we are working to.

“We want to ensure that the process provides the best use of tax-payer money, and that where other parties want to take on projects these will be both successful in their own right, and help the Government to boost growth.”

The RDAs plans are now being reviewed by the Government and agreed by the National RDA Transition Board. They will then be given final sign off by the RDA boards. It is expected that these plans will be implemented from April 2011.

Notes to editors:

The full Statement can be viewed here: http://www.bis.gov.uk/policies/economic-development/englands-regional-development-agencies/assets

The members of the National RDA Transition Board are: BIS (board chair); Department for Communities and Local Government; One North East; Advantage West Midlands; East Midlands Development Agency; Homes and Communities Agency; HM Treasury and the National Audit Office

BIS' online newsroom contains the latest press notices, speeches, as well as video and images for download. It also features an up to date list of BIS press office contacts. See http://www.bis.gov.uk/newsroom for more information.

Contacts:

BIS Press Office
NDS.BIS@coi.gsi.gov.uk

James Platt
Phone: 020 7215 5978
james.platt@bis.gov.uk

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