Four Cornish areas to benefit from new Towns Fund

Camborne, Penzance, St Ives and Truro have been selected by Government as four of the 100 towns that will benefit from support from the new Towns Fund.

Each area will benefit from up to £25 million of Government funding, the Communities Secretary, Rt Hon Robert Jenrick MP, has revealed today (September 6, 2019).

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The areas selected for the fund have been chosen due to a number of factors linked to their economic and social position and related investment opportunities.

Communities, businesses and local leaders will now work together to draw up ‘Town Deal’ plans to help transform the economic growth prospects of each area, with an emphasis on improved transport, broadband connectivity, skills and culture.

Penzance is one of four Cornish areas selected to benefit from the Government's Towns Fund

Today’s announcement follows confirmation in July of an additional £1.325bn to support towns as part of a renewed vision to level up our regions, which took the total value of the Towns Fund to £3.6bn.

Leader of Cornwall Council, Julian German, welcomed the announcement but called on Government to provide more detail on exactly how much funding will be available for each area.

He said: “It’s good to hear that these towns will receive the much-needed support they deserve from Government. Communities in Cornwall rely on strong towns as places for residents to meet socialise and do business.

"Cornwall Council has been lobbying hard for Government support for our towns, setting out the case for regeneration, and I am pleased they have listened and seen how much potential Cornwall has and what investing in its towns can achieve.”

Councillor Bob Egerton, portfolio holder for planning and economy, said: “The health of the high street is vital to Cornwall’s overall economic health, so any extra funding in this area is to be welcomed.

“We hope other towns around Cornwall will also get the same opportunities as these areas.”

Once approved, the new Town Deals will help to improve connectivity, provide vital social and cultural infrastructure and boost growth – with communities having a say on how the money is spent.

The Towns Fund builds on aims to decentralise funding and decisions away from Whitehall and invest in the growth of local economies and devolving powers to other regions, such as Cornwall.

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.”