Ministers have announced a £500m government cash pot designed to boost regional economic growth through house-building and infrastructure projects.

The Growing Places Fund will be delivered through the 38 local enterprise partnerships (LEPs) which Whitehall claims now cover 99% of the country, so that they can prioritise local needs. Ministers aim to allocate the total cash pot – from the end of January 2012 – through a bidding process, with councils working with LEPs to help remove red tape and other barriers to growth.