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Regional Infrastructure Fund (RIF)
 A Regional Infrastructure Fund (RIF) Prospectus has been jointly prepared by the South East and South West Regional Assemblies and Regional Development Agencies. The Prospectus has been submitted to the Treasury, Department for Communities and Local Government and the Department for Transport, and makes specific propositions in relation to policy areas of each department.
The Prospectus provides further details on the proposal that was put forward in the respective regional submissions to Government in relation to CSR07 in October 2006.
Both regions view the RIF as an essential mechanism for ensuring the timely delivery of critical infrastructure to support housing growth as set out in their respective Regional Spatial Strategies and Regional Economic Strategies.
The proposal also addresses some of the key propositions in the Pre Budget Report 2006 and the related Eddington and Barker reviews including:
- The need to prioritise infrastructure investment to deliver critical outcomes and align funding mechanisms accordingly
- The benefits of taking investment decisions in accordance with strategic priorities as established in regional spatial and economic strategies
- Maximising the use of Planning Gain Supplement and road user charging to facilitate the timely delivery of strategic infrastructure
- Establishment of effective regional governance arrangements building on the existing Housing and Transport Boards to further extend the Regional Funding Allocations process and align spatial priorities with infrastructure investment decisions.
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