Simplify the following text for a Grade 15 native English-speaking person.
Original: In August 2008 a report by the right-leaning pressure group the Taxpayers ' Alliance , claimed that Â # 15 billion was being wasted by the regional development agencies , quangos set up with the stated goal of encouraging economic development in their respective English regions .
Simplified: In August 2008 a report by the right-leaning pressure group the Taxpayers ' Alliance , claimed that Â # 15 billion was being wasted by the regional development agencies , quangos set up to encourage economic development in their regions .