Preston and Leyland are set to receive millions of pounds of government investment thanks to a new ‘Towns Fund’ plan.Advertisement
Once approved, each place could get up to £25 million as part of the £3.6 billion initiative.
Designed to support places across the North and Midlands to build prosperous futures, the Towns Fund will see local areas working with the government to boost growth and develop regeneration plans for social and cultural infrastructure.
Preston and Leyland are named in a list of 100 places with proud industrial and economic heritage that the government said have not always benefitted from economic growth in the same way as more prosperous areas.
The Leader of Preston City Council, Councillor Matthew Brown, said: “The council is pleased that Preston has been included in the first tranche of places to participate in the Towns Deal programme.
“There are already many reasons to invest in Preston and we have numerous initiatives underway to benefit the city for our residents and workforce.
“I look forward to working with the Communities Secretary to explore how a Town Deal can further boost jobs, economic growth and the cultural offer of the city.”
Local Government Secretary, Rt Hon Robert Jenrick MP, said: “Ensuring that prosperity and opportunities are available to everyone in this country, not just those in London or our biggest cities, is at the heart of the mission of this government.
“We want to level up our great towns, raising living standards and ensuring they can thrive with transformative investment in transport, technology, skills and culture.
“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.”
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Minister for the Northern Powerhouse and Local Growth, Rt Hon Jake Berry MP said: “In July, the Prime Minister promised to level up 100 towns across the country, and today we’re delivering that promise.
“The best answers for local people will come from local people, that’s why we have listened to people living in these towns and will support them with a mega £3.6 billion fund to drive jobs and economic growth.
“Once approved, new Town Deals will improve connectivity – with communities having a say on how the money is spent. Decisions on funding any proposals will be made in due course.”
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What do you think of the Towns Fund? Let us know in the comments below.