£1 Billion Future High Streets Fund Expanded To 50 More Areas

DiningAn additional 50 towns will benefit from the £1 billion Future High Streets Fund, Prime Minister Boris Johnson confirmed earlier this week.

Towns across England – from Dudley to Dover and Scarborough to Stockport – will join 50 successful areas already shortlisted to develop plans to reinvent their high streets.

The funding could be used by these areas to improve transport and access into town centres, convert empty retail units into new homes and workplaces, and invest in vital infrastructure.

The extension to the shortlist comes on the back of the £3.6 billion Towns Fund announced last month, which included an additional £325 million for the Future High Streets Fund, taking the overall Fund to £1 billion as the Government looks to drive forward local growth.

Prime Minister Boris Johnson said:

Our high streets are right at the heart of our communities, and I will do everything I can to make sure they remain vibrant places where people want to go, meet and spend their money.

But with our town centres facing challenges, we’re today expanding the High Streets Fund to support over 100 high streets to regenerate – backed by £1 billion of vital investment.

This scheme is going to reenergise and transform even more of our high streets – helping them to attract new businesses, boost local growth, and create new infrastructure and jobs.

Communities Secretary Rt Hon Robert Jenrick MP said:

High streets have a crucial role to play as we work to grow the economy of all parts of the country.

Our £1 billion Future High Streets Fund is key to delivering this, empowering local leaders to help transform their high streets and town centres as consumer habits change.

Interest in the Fund has been huge, and with so many strong applications, I am extending the number of towns moving forward to the next phase and getting a chance to develop their proposals.

The government is going to level-up our regional economies and as Communities Secretary I am proud to be driving this agenda forward.

Successful candidates will progress to the second phase of the Future High Streets Fund and receive up to £150,000 to support the development of detailed project proposals that can be submitted for capital funding.

UKHospitality chief executive Kate Nicholls said “pubs are an integral part of high streets in every region of the UK. Not only are they economically beneficial, they are valuable social assets as well. As high Street have declined some pubs have also struggled. A healthy thriving pub sector is good for the high Street and local communities so we hope councils put them at the forefront of their plans”