regional policy

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regional policy

in the law of the EUROPEAN UNION, a body of rules that seeks to redress inequalities among the regions (which need not be states) within the community. The idea is to balance the effect of the other rules of the community in favouring certain regions at the expense of others. The SINGLE EUROPEAN ACT (SEA) formally incorporated the policy into Community law although it had been recognized for some time. It operates through the EUROPEAN REGIONAL DEVELOPMENT FUND (ERDF). The SEA attempts to coordinate various Community schemes to be more effective in assisting less developed areas of the community. It seeks to assist where economic development is very retarded against the Community average, deals with industrial decline and assists the long-term unemployed as well as assisting rural areas. In its latest phase it encompasses issues such as sustainable development, urban development and even supporting the peace process in Northern Ireland. As well as the ERDF, the Social Fund supports projects. Economic, social and geographic cohesion are now main aims and there is a cohesion fund also available to support this aspect of regional policy.
Collins Dictionary of Law © W.J. Stewart, 2006
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Welsh Liberal Democrat AM for South Wales West Peter Black said he has written to the Welsh Assembly after he learned the factory has been in receipt of three Regional Selective Assistance grants totalling pounds 3,562,000.
The regional selective assistance grants may be a successful way of greasing the palms of big business but we don't have to like it.
Between 1992 and 2002, Regional Selective Assistance grants worth pounds 212m were given to 121 foreign corporations to invest in the North-East.
Wales would lose about pounds 400m, equivalent to the entire budget for school and hospital building, the crime fighting fund, as well as all the regional selective assistance grants for attracting jobs to our area.
"That is why the current review of the Government's system of Regional Selective Assistance grants is so important."
Since April last year, the Regional Selective Assistance grants have been the responsibility of Regional Development Agencies such as Advantage West Midlands.
The regional selective assistance grants from the Welsh Assembly will help the SMEs expand their businesses and safeguard 91 existing jobs as well as assisting with the creation of the new positions.
Assisted areas are eligible for Regional Selective Assistance grants to boost employment and business.
Businesses can also receive Regional Selective Assistance grants denominated in euros where the project is internationally mobile.
An examination of the Widab grant approvals during the 12 months shows that pounds 33.5m of regional selective assistance grants was awarded to 21 companies across Wales at an average cost of pounds 12,731 per job created.
During the last year, ONE has offered 81 companies in the region Regional Selective Assistance grants totaling pounds 27m, which has been matched by investments of pounds 170m, helping to underpin 6,000 jobs.
But she said she would urgently look into the possibility of Regional Selective Assistance grants to help cover the cost of preparing Teesport for mass exports.

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