UP TO £10,000 of taxpayers’ cash is being spent on a plush evening reception which could help woo potential businesses and developers interested in investing in Southend.

Regeneration company Renaissance Southend is sponsoring the event as part of the Thames Gateway Forum, which attracts up to 400 international investors.

The company, funded by Government grants, says the reception will be held at the prestigious Mitre Passage office development in Greenwich, which has outstanding views across Canary Wharf’s skyline.

The event will help bosses at Renaissance Southend network with potential big investors interested in investing in south Essex.

However, Southend Council Independent group leader Martin Terry said: “I think this whole thing is a waste of time and money.

“It could be that after the next election, quangos like Renaissance Southend will be abolished and power returned to local councils where it should be.”

Renaissance Southend spokesman Colin Felton said it is hoped the reception will promote the message of regeneration in Southend to between 150 and 400 international investors and developers.

He added: “The evening reception is to take the south Essex message direct to this highly influential audience, to show them the kind of opportunities which exist in our area.”

Theo Steel, chairman of Renaissance Southend, said: “We are proud to be part of this event which provides us with the forum to continue to attract private sector investment to our town, which we hope will create new jobs, opportunities and growth.”

The Thames Gateway Forum, which opens tomorrow at the O2 arena, in London, showcases all investment opportunities in the Thames Gateway, the Government’s biggest regeneration project.