Coalition government axes £2bn of Labour Projects
18 June 2010
Treasury Chief Secretary, Danny Alexander, yesterday announced plans to cancel 12 projects worth £2billion, and suspend a further 12 projects, worth £8.5billion, pending review.
Amongst the cancelled projects, all agreed since January 1st are an £80million loan to Sheffield Forgemasters, and various schemes aimed at helping the long-term unemployed.
The full list of cancelled projects is:
- Stonehenge Visitor Centre (£25m)
- Local Authority Leader Boards (£16m)
- Sheffield Forgemasters International Limited (£80m)
- Rollout of the Future Jobs Fund (£290m)
- Six month offer recruitment subsidies (£30m)
- Extension of Young Person’s Guarantee to 2011/12 (£450m)
- Two year Jobseeker’s Guarantee (£515m)
- Active Challenge Routes – Walk England (£2m)
- County Sports Partnerships (£6m)
- North Tees and Hartlepool Hospital (£450m)
- Local Authority Business Growth Initiative (£50m)
- Outukumptu (£13m)
Further cuts are expected in the run up to next week’s budget announcement.
Filed under: budget, coalition