The Minister of State, Department for Business, Innovation and Skills (Michael Fallon)
On 22 March 2012, as Minister with responsibility for business and enterprise, my hon. Friend the Member for Hertford and Stortford (Mr Prisk) announced in Parliament through a written ministerial statement, Official Report, column 66WS commencement of the triennial review of the Industrial Development Advisory Board (IDAB). I am now pleased to announce the completion of the review.
The Industrial Development Advisory Board is a statutory body which plays an important role providing independent and expert advice to Ministers on large capital investment projects in England, particularly applications under the Grant for Business Investment (GBI) scheme or the Regional Growth Fund (RGF).
The review concludes that the functions performed by the Industrial Development Advisory Board are still required and that it should be retained as an advisory non-departmental public body (NDPB). The review also looked at the governance arrangements for IDAB in line with guidance on good corporate governance set out by the Cabinet Office. The report makes some recommendations in this respect; these will be implemented shortly.
The full report of the review of IDAB can be found on the BIS website and copies have been placed in the Libraries of both Houses.