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09 September 2010

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	UK Government axes 'poor value for money' projects in first round of cuts

London, 17 June, The UK Government has cancelled twelve programmes worth £2 billion and suspended another twelve worth £8.5 billion. The cancelled projects include a new Visitor Centre for Stonehenge, a loan to Sheffield Forgemasters for a 15,000 tonne press capable of making specialist components for the nuclear industry, and new programmes for the young unemployed. Danny Alexander, chief secretary to the Treasury told Parliament that he had taken the decision to cancel projects that did not represent good value for money and suspend others pending full consideration in the Spending Review. He added: We have also found another spending blackhole in the previous Government's plans - projects had been approved with no money in place to pay for them. I am determined to deal with this problem head-on and ensure we never see this kind of irresponsible financial planning in Government again.’ The Stonehenge project could still go ahead if private fiannce is forthcoming.