And interim arrangements that allow some forms of gap funding were described as under-publicised and an inadequate long term solution.
Nigel Smith, Chairman of the RICS Regeneration Policy Panel said: 'The state has to work with the private sector to rescue some of these areas. Neither can do it alone. That is the economic reality. Consequently, some decisions have to be made. The regeneration of our most run-down areas is not something that should be subject to EU competition rules. Either we abandon these areas to their fate or we allow the state to step in and help turn them around.'
And he called on Stephen Byers, the beleaguered Secretary of State at the Department of Transport, Local Government and the Regions, to step in. 'This should be given much higher priority in Government,' Smith said. 'It would be pushing at an open door in Europe, but nothing seems to be happening. Meanwhile our towns and cities are left in limbo.'
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