North West Development Agency to be abolished
The North West Development Agency (NWDA) - which promotes economic growth in the region - is to be scrapped, the government has announced.
Chancellor George Osborne said in his Budget that he wants to replace regional development agencies with Local Enterprise Partnerships.
The process will begin in the summer, with the publishing of a white paper.
The NWDA said there was "strong support" for economic development at a regional level.
The agency's chief executive, Steven Broomhead, said: "Today's Budget outlines the government's commitment to drive forward economic development, which the Agency very much welcomes.
"A strong, stable and successful economy relies upon strong leadership and the right framework in place to support growth.
"Whilst we don't yet know the detail of the Local Enterprise Partnerships announced today, what we do know is that in the north west there is strong support for economic development at a regional level.
"In the meantime, our job is to continue to work closely with government and deliver economic support to enable the region to emerge from the downturn in a strong position."