Cash handout aimed at easing recession
A CASH boost of more than �90,000 will be given to Barking and Dagenham Council to help the borough through the recession. The government handout comes from the Local Authority Business Growth Incentives scheme (LABGI), which rewards councils who are succ
A CASH boost of more than �90,000 will be given to Barking and Dagenham Council to help the borough through the recession.
The government handout comes from the Local Authority Business Growth Incentives scheme (LABGI), which rewards councils who are successfully promoting economic growth in their areas.
It has been confirmed that Barking and Dagenham Council will get �90,639.02 from the scheme, which it can spend how it sees fit.
The amount is significantly lower than many other London authorities. Westminster and Southwark, for example, both received more than �2 million.
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But a council spokesperson said the amount was "relatively small" this year because of the regeneration activity going on in the borough.
She added: "This temporarily reduces the rateable value of the borough's businesses, but in future the level of activity will increase significantly as a result of the regeneration.
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"The council has done, and is continuing to do a huge amount to promote economic activity within the borough."
The cash will be spent on a range of services across Barking and Dagenham.