Because the scheme is spending as much as £200,000 generating a single job.
Needless to say, Dave and Nick praised the initiative when they visited Essex earlier this week.
And previously, Nick has said the fund would lead to half a million jobs. But that was a lie. The report forecasts that it will create only up to 41,000 jobs.
Then there's they claim that the fund would help rebalance the economy. It hasn't, has it, Nick?
'£1.4bn regional growth fund not value for money, says finance watchdog.
Back to the drawing board.
PS... the pic is nothing to do with the story... but it's really good. Click to enlarge.