£800,000 prize for promoting growth

OLDHAM Council chiefs have been handed more than £800,000 by Government as a reward for successfully promoting growth in the borough.

Local Government Minister John Healey yesterday announced 43 councils in the North-West would receive more than £37 million to spend on what they saw fit.

Oldham has been handed £822,053 — its third consecutive annual cash reward — for its efforts in encouraging new business and general attractiveness of the area. The money is not ring-fenced but can be spent however council bosses decide.

Oldham Council’s Service Director for Economy and enterprise Michele Carr said a large proportion of the money from past awards was invested into trying to continue the growth of the local economy.

Money is also spent in conjunction with the strategic partners on economic enterprise and tackling issues such as unemployment.

Oldham’s answer to entrepreneurial BBC hit show “Dragon’s Den” — Fast and Furious — which runs an enterprise competition among schools has also benefited previously.

Ms Carr added: “It is a great scheme. It is a great idea. It is about reinvesting and helping us grow our own new award. It is good that councils can choose how the money is spent as each area will have different issues. We very much hope it will continue.”

Mr Healey said: “The money rewards the work they’ve done to boost their local economies and aims to encourage councils to play a bigger role in backing business and new jobs in their area.

“Over the past three years this scheme has made a real difference to local communities, so I want to ensure that we continue to provide an incentive for local authorities to promote local business growth.”

Nationally 371 councils are sharing almost £300 million.