Chancellor George Osborne today confirmed he would withdraw £270 million of the public’s money on Regional Development Agency (RDA) spending.
Four of the UK’s nine RDAs are tied with numerous game industry funding initiatives, events partners and trade promoters. The enormity of the cuts will almost certainly have an effect on these. More can be read here.
Below you will find the immediate reactions from CEOs within the four RDAs affected.
Alan Clarke, One North East Chief Executive:
“Regional development agencies have today been asked to find reductions totalling £270m in their programme budgets and a further £23m in administration costs in this financial year.
Clearly this is a challenge but it is one we will meet. We await finer detail from Government of how the budget reductions will impact individual RDAs and we will then need to examine those proposals in depth.
One North East remains fully committed to delivering maximum economic return for every pound it invests in the region.
We have channelled as much investment as we can into frontline support to help companies through the recession, to help them consolidate and grow during the economic recovery.
There are huge opportunities for the North East economy in the future as we move into renewed economic growth - which One North East is leading in areas such as offshore wind and low carbon vehicles.
And we are greatly encouraged by the support demonstrated by local authorities and regional businesses for the continuation of economic development at a regional level in the North East.”
Sally Joynson, Chief Executive of Screen Yorkshire/Game Republic:
“There’s no doubt that there is going to be less public money around and therefore tough times ahead but the games sector in Yorkshire is very resilient.
We’ve got some very strong companies who are continuing to grow by focusing on digital distribution and app store opportunities. Games is a priority sector for Yorkshire and Screen Yorkshire will continue to do all we can for our companies through our network Game Republic.”
Debbie Williams, Chief Executive of EM Media:
“Like any business involved in developing and supporting the creative industries we are waiting to see how new financial arrangements will impact upon the digital media sector in the East Midlands.”
Pam Alexander, Chief Executive at the South East England Development Agency
“The government has today announced that across the public sector signification budget reductions will be need to be found in order to tackle the UK's budget deficit. Regional Development Agencies will play their part, and are being asked to save £270m this current financial year.
SEEDA is ready to make its contribution to these savings and has done some contingency planning. SEEDA will now work with local government, businesses and other partners to determine how to achieve the savings that the government and the country needs while protecting the areas of the economy in the South East where our work can make the most needed difference.
SEEDA will prioritise its resources to continue delivering a range of investment programmes to those parts of the economy of the South East that will help the country into profitability. SEEDA will also look to ensure that the major investments we have made in those parts of the economy that are vulnerable will not be wasted.
We look forward to working with the Government, local authorities and other partners in order to generate maximum value for the South East as the engine-room of the UK economy."