AWM in cuts of £35m to projects

Around £35 million has been slashed from the budgets of more than 120 regeneration projects across the West Midlands, it was revealed today.

Doomed regional development agency Advantage West Midlands (AWM) has been ordered to slice around 10 per cent off its existing budget this year as part of a round of Government spending cuts.

AWM said today it had cut £34.8m from its regeneration projects by axing 11 and cutting back on 110 others.

Its spending in the Black Country has plunged by two thirds, from £13.5m to just £4.5m.

This has meant £7.4m has been cut from the redevelopment of West Bromwich town centre, and another £1m from the Bilston Urban Village project.

In Birmingham the budget has been cut from £4.7m to £2.9m, with the rebuild of Edgbaston Cricket Ground losing £1.1m.

Mick Laverty, chief executive at AWM, said today: "The scale and pace of the cuts required meant that inevitably some difficult and unpopular decisions had to be made."

Contracts had already been signed on all projects and the cuts have only been agreed following months of negotiations. But AWM said today it had protected £86.5m of major schemes.