ABSTRACT
Subsidies to the British Transport Commission have likewise been well in excess of expenditure on regional policy incentives until recent years. Though there is general agreement that the purpose of regional policy measures is to promote the development of the less prosperous regions, there appears to be some difference of opinion as to how this is to be achieved. Traditionally the Board of Trade have regarded their power to withhold Industrial Development Certificates as their strongest weapon in influencing the location of new industrial development in favour of the problem regions. The range of possible incentives and inducements to encourage regional development is extremely wide. If regional policy is to be made more effective, therefore, there may be some case for increasing the level of inducements. Thus, the range of possible policy measures for regional development covers controls on development, inducements, including grants, loans and tax relief, labour training, the planning of public investment and the use of public enterprise.
