John Prescott, the deputy prime minister, pledged government funds to revitalise the mining communities devastated by the pit closures of the 1980s.
But he declined to specify how much the government would spend, and postponed until autumn a decision on plan to create up to 50,000 jobs in coalfield areas.
Prescott said the government would be “a major partner in supporting and financing” the Coalfields Regeneration Trust, a new body which would co-ordinate the economic revival of former coalmining areas.
But he sidestepped the issue of whether the companies wishing to invest in the regions should be given tax incentives to stimulate business activity and employment.
The Independent 14/07/98 page 19
Financial Times 14/07/98 page 9
