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City Markets concludes that Business-led regeneration should focus on business-deprived areas but that the Government should subsidise business activity only where specific market failures exist, in proportion to those market failures and in line with local labour market and other conditions.
Boosting enterprise in deprived areas has been a recurring goal of government policy. But enterprise programmes have had disappointing results in deprived areas, and been poorly targeted. The Comprehensive Spending Review is now looking to rationalise and improve economic development and regeneration schemes.