Ring out the old, ring in the .... errm .... new?

Good bye to "Labour's failed Regional Development Agencies". Instead, we shall have the shining new Local Enterprise Partnerships.

Local Communities Secretary Eric Pickles said: "Over the last decade, the country's economy became skewed by artificial boundaries and top-down prescription that did not work".

"We want to create a fairer and more balanced economy driven by private sector strength, and our plan for local growth will create local enterprise partnerships, reform the planning system and introduce development incentives for local authorities, like allowing them to keep their business rates, so all parts of the country benefit."

Hurrah! Well, sort of.

Lord Heseltine will chair the Independent Advisory Panel, made up of academics, business and civic leaders, and will consider all bids submitted to the fund by LEPs and will make recommendations to Ministers.

What a good thing Labour was voted out and the Cleggerons formed a Coalition. Everything is so different.