Government grant for Toyota

Toyota in Derbyshire is one of more than 100 organisations in England to receive cash from the Government to boost jobs and fuel business expansion. Nick Clegg is visiting the factory in Burnaston to announce a £6.3 million grant.

Toyota lands £6.3 million windfall to develop new vehicles

Car-making giant Toyota has landed a £6.3 million cash windfall to help it develop a new generation of vehicles.

The money is part of the Regional Growth Fund - a government scheme designed to create and safeguard jobs.

Today the Deputy Prime Minister, Nick Clegg, visited the Toyota plant to confirm the news. But as Phil Brewster reports, some people have questioned whether the project gives value for money.

Pharmaceuticals company creates 30 new jobs

by Gareth Owen

A pharmaceuticals company in Nottingham says it has created 30 new jobs as a result of the Government's Regional Growth Fund (RGF).

Molecular Profiles won a £1.6m grant in the first allocation of the Growth Fund in 2010, the money was used to build new research and development facilities.

Chief Executive Nikin Patel says the total number of new jobs created could be as many as 60 by the time the project is finished.

The list of companies receiving money in the fourth and final round of RGF awards has been announced today. Responding the criticism of the scheme, Mr Patel said:

"More recently we've had bad news stories with the likes of AstraZeneca closing their plant in Loughborough and other pharmaceutical companies downsizing in the region, so there was a threat of a significant loss of good talent to the region.

"Companies are growing, are creating jobs so to support companies like this is very important."

Read: Deputy PM at Toyota plant to announce grant

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PICTURE: Deputy PM at Toyota plant to announce grant

Nick Clegg at the Toyota plant at Burnaston in Derbyshire.
Nick Clegg at the Toyota plant at Burnaston in Derbyshire. Credit: ITV News Central

Deputy Prime Minister Nick Clegg is holding a Q&A session with workers at the Toyota plant at Burnaston in Derbyshire.

It is one of more than 100 organisations in England to receive cash from the Government to boost jobs and fuel business expansion.

Nick Clegg is at the factory in Burnaston today to announce a £6.3 million grant.

What is the Government's Regional Growth Fund?

Deputy Prime Minister Nick Clegg will be at Toyota in Derbyshire today to announce a Regional Growth Fund of £6.3 million.

  • The Regional Growth Fund (RGF) is a fund created to safeguard jobs, it supports projects and programmes that are using private sector investment to create economic growth and sustainable employment
  • The first three rounds of the RGF have supported specific sectors such as: aerospace, automotive, energy and life sciences
  • At the latest Spending Round the Treasury announced £600 million funding for the RGF in both 2015-16 and 2016-17 to support projects to create economic growth and maintain private sector employment

Read: Nick Clegg: Toyota will use the money to 'secure jobs'

Nick Clegg: Toyota will use the money to 'secure jobs'

Deputy Prime Minister Nick Clegg said the Regional Growth Fund is "all about" creating jobs.

Since 2010, the Coalition Government has created 1.3 million jobs in the private sector, he added.

The Regional Growth Fund is exactly what this country needs to go for growth - from family-run Cartwright Group in Manchester who are now expanding to create 300 jobs and train up to 30 apprentices every year for the next three years, to Toyota who will use the money to help increase their ability to develop and produce new generations of Toyota cars right here in the UK, securing jobs and creating opportunities for the future.

– Deputy Prime Minister Nick Clegg

Nick Clegg announces £6.3 million grant for Toyota

Deputy Prime Minister Nick Clegg will be in Derbyshire today to announce that Toyota will get a £6.3 million grant from the Government.

Deputy Prime Minister Nick Clegg will be n Derbyshire today Credit: Joe Giddens/PA Wire

More than 3,000 people work at its factory at Burnastone in Derbyshire, ministers say the money will help the firm secure jobs and create further growth.

The Liberal Democrat leader will also visit the Rolls-Royce Apprentice Academy.

Read: Toyota receive £6.3 million of Regional Growth Fund

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Toyota receive £6.3 million of Regional Growth Fund

The Deputy Prime Minister will be in the Midlands today where he will announce the successful bids in the fourth round of the Government's Regional Growth Fund.

The chassis of the Auris Touring Sport on the production line at Toyota's Burnaston plant Credit: ITV News Central

Nick Clegg will visit Toyota in Burnaston in Derbyshire as part of his trip.

The company will receive £6.3 million which is said will secure jobs and provide opportunities for the future.

Mr Clegg will also visit Rolls-Royce.