The aim of regulators is to ensure that businesses do not misuse their monopoly power by charging customers excessive price than usual. Regional policy is a policy that is concerning with promoting a stable distribution of industrial activity, employment and wealth. It has targeted all regions and cities in European Union such as Austria, Belgium, Germany an3 so on in order to support job creation, business competitiveness, economic growth and improve citizens’ quality of life. (European Commission, 2016) The main objective of United Kingdom regional policy is reduction of inconsistency in unemployment between the regions and it involves overcoming the barriers before it became into a serious problem. The benefit of regional policy towards …show more content…
Besides, regional policy has reported to invest money in people through the European Regional Development Fund and the employment has increased which causes unemployment rate to fall. Based on Regio and Sheil (2008), unemployment rate in year 2005 of the less developed European Union Regions is lower than year 2000 which resulted there is increase in job opportunities and regions will have to cope the skills needed in order to remain competitive in the knowledge based economy. For example, the more Sainsbury’s expand their business to different regions, the more job opportunities will be created. Furthermore, environment can be source of economic growth, European Union regional policy can contribute sustainability by promoting environmental friendly technologies such as transport, energy systems, eco-innovation and so on. (Regio, Sheil, 2008) It is an advantage as is to protect the environment that has being disrupted which leads to pollution, extinction and so