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REDWOOD ANNOUNCES WELSH CASH LIMITS

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The European Regional Development Fund cash limit - WO/ERDF - will be reduced by£7m from£55m to£48m, Welsh secre...
The European Regional Development Fund cash limit - WO/ERDF - will be reduced by £7m from £55m to £48m, Welsh secretary John Redwood told MPs today.

The local authority capital limit - WO/LACAP - will be increased by £7m from £483,215,000 to £490,215,000.

The reduction in the WO/ERDF cash limit results from a lower than expected take-up of ERDF provision during the year, Mr Redwood said in a written parliamentary answer.

The increase in WO/LACAP provides for additional housing supplementary credit approvals for mandatory renovation and disabled facilities grants.

Neither of these proposed changes will add to the planned total of public expenditure, Mr Redwood said.
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