The government has awarded Town Investment Funds to 45 towns in March’s Budget. These funds are targeted at levelling up the most deprived areas and tackling health and social inequality. Initiatives will support urban living and look to boost recovery from the pandemic.
£1.02bn supporting regeneration and recovery
We have collated the bids submitted by the successful towns into an interactive report for you to interrogate.
Our initial observations:
- Only 31 out of the 45 successful towns have published the financial details of their bids (we have put in requests with the remaining 14)
- The level of detail and quality of bids varies across the towns.
- There are very few schemes that have any reach outside of the main town centre (Ipswich is one example where they are looking to improve shopping parades around the whole town).
- Of the bids where we have details, 81% of the requested amount has been awarded, although it’s not clear how this will be allocated across each town’s projects.
There will be many exciting opportunities as these plans are implemented. We are currently conducting further analysis and will continually share updates as they develop.