The Government will launch a £1.6 billion fund this year to boost growth and give communities a greater say in their future after Brexit. The Stronger Towns Fund will be targeted at places that have not shared in the proceeds of growth in the same way as more prosperous parts of the country. It will be used to create new jobs, help train local people and boost economic activity – with communities having a say on how the money is spent. A total of £1 billion will be allocated using a needs-based formula.
More than half this share (£583 million) will go to towns across the North with a further £322 million allocated to communities in the Midlands. Communities will be able to draw up job-boosting plans for their town, with the support and advice of their Local Enterprise Partnerships.
A full list of allocations of the £1 billion can be found below:
Region Allocation (£m)
North West: 281
North East: 105
Yorkshire and The Humber: 197
West Midlands: 212
East Midlands: 110
South West: 33
South East: 37
East of England: 25
https://www.gov.uk/government/news/16-billion-stronger-towns-fund-launched
