Her Majesty’s Government today announced that 100 places across England have been invited to submit a business case to access up to £25m each from the £3.6bn Towns Fund established by our Conservative government.
There’s more to politics than Brexit, and Redditch really needs this boost – so it was fantastic news to hear this morning that Redditch is one of the towns that will get something from this fund.
The towns eligible for support from the £3.6 billion Towns Fund include places with proud industrial and economic heritage but have not always benefitted from economic growth in the same way as more prosperous areas.GOV.UK Announcement
A part of the scheme will require councils to work with communities, businesses and local people to draw up the plans.
This is entirely in line with our local #UnlockRedditch campaign that saw the Conservatives win control of Redditch Borough Council in 2018.
Local Government Secretary, Robert Jenrick MP said:
“I will now work with local people from the 100 communities announced today to agree proposals to invest up to £25 million in each place. I hope these deals will provide the investment and the impetus for long-term renewal ensuring each town can look to the future with a new optimism. “Rt. Hon. Robert Jenrick MP
Level-Up the Regions
Today’s announcement follows the Prime Minister’s confirmation in July of an additional £1.325 billion to support towns as part of a renewed vision to level up our regions.
This took the total value of the Towns Fund to £3.6 billion.
The government will soon publish a prospectus to guide towns through the process and set eligibility criteria for funding.
Once approved, new Town Deals will improve connectivity, provide vital social and cultural infrastructure and boost growth – with communities having a say on how the money is spent.
Decisions on funding any proposals will be made in due course.
I recognise it will be important for the Redditch business case to be ambitious yet deliverable and we must be mindful that anything we generate from this fund must be sustainable over the long term.
It’s clear that Redditch will be able to come up with fundable proposals, so I have no doubt we will get something from this fund.
I will work hard with the Leader of the Council and my Executive Committee colleagues to try and get as close to £25m in our proposal as possible.
The Town Deals Fund builds directly on the government’s commitment to decentralising funding and decisions away from Whitehall.
Our government is investing in the growth of local economies and devolving powers through ambitious City and Growth Deals, providing more than £9 billion of funding.
I am especially pleased to see a focus on culture in the new Towns Fund and will be keen to hear the criteria for this.
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