by Sam Lennon

Ashford's regeneration company is coming to an end after months of speculation.

Ashford's Future will wind down by next March 31 because of lack of funds and the new government's emphasis on councils controlling more of their affairs.

The borough council's executive committee last night (Thursday) voted for the ending of the firm following officers' advice.

Cabinet member Bernard Heyes (Con) told the meeting: "This will bring accountability, that has been missing for a decade."

Council leader Peter Wood (Con) said the move was supported by Kent County Council, which will work with the borough in a new partnership.

He said: "I have a letter from Kevin Lynes, cabinet member of regeneration, who says that KCC supports the direction of travel set out in our report."

Fellow cabinet member Neil Bell said: "Ashford council and Kent are singing from the same hymn sheet."

The company's future had been in question since last summer after the announced loss of one of its four main partners, SEEDA (South East England Development Agency).

The quango is to be abolished in 2012, pulling away an entire corner of support for the company.

The council then said the company's future would have to be reviewed.

Ashford's Future is a delivery company with a multi-million pound annual budget.

It is not a quango as more than half of it is privately controlled - five of its nine directors are from the private sector and the other four are public.

Ashford's Future employs 10 people and it is not yet know how many may face redundancy or be redeployed.

The organisation was formed in 2003 and it formally became a company in November 2008.

SEEDA's work as a regional development agency will be replaced by local enterprise partnerships and Ashford will work with a new Kent, Essex and East Sussex LEP.