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SEEDA braced for cuts

Wed 26 May 2010, 9:36 am

The South East England Development Agency is braced for deep funding cuts after the Government's review of public spending. (Sourced from Kent Business.)
SEEDA is one of several regional development agencies facing an overall 270m reduction as part of 836bn savings from the business department's budget.

SEEDA is involved in the regeneration of parts of Medway, including Rochester Riverside and Chatham Maritime.

It played a major part in the transformation of the East Kent coalfields and recently funded the £7m Canterbury Innovation Centre.

It also set up enterprise hubs, since replaced by Innovation and Growth teams.

RDAs are expected to transform into local enterprise partnerships between local authorities and business groups.

Chief Secretary to the Treasury David Laws said: "Regional Development Agencies will have to cut back on spending which has the lowest economic impact."

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