Govt's £5bn regional pot 'falls short of Labour plans'

The shadow business secretary has dismissed an extra £5 billion spending on regional growth as falling "far short" of Labour plans.

Mr Umanna said that Labour would devolve £30 bn in spending to the regions Credit: PA

Labour MP Chuka Umunna said that the Conservative-led coalition had failed to deliver on promises to rebalance England's economy and ensure growth was not concentrated in the capital.

"Instead we've seen things go into reverse as regions and local areas have been held back," he said.

He said that a Labour Government would allow regional authorities to take over £30 billion of spending across the country.

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Government announces £5 billion for English regions

Officials said the extra £5 billion in regional investment would create thousands of jobs and help re-balance England's over-centralised economy.