Asked by: Baroness Valentine (Crossbench - Life peer)
Question to the HM Treasury:
To ask Her Majesty's Government, further to the Written Answer by Lord Agnew of Oulton on 4 March (HL13627), whether there are funds remaining from (1) the £1.6 billion Stronger Towns Fund, announced on 4 March 2019, and (2) the £675 million Future High Streets Fund, announced on 29 October 2018; whether any such remaining funds are now included as part of the total of their £4.8 billion Levelling Up fund, announced on 25 November 2020; and if so, whether the criteria that must be met for local authorities to bid for such funds has changed.
Answered by Lord Agnew of Oulton
The £4.8bn Levelling Up Fund will invest in infrastructure that improves everyday life across the UK and will operate UK-wide, extending the benefits of funding for priority local infrastructure across all regions and nations. It supersedes and brings together previous funding streams, including allowing towns to apply for funding for high street and town centre regeneration previously funded from the Towns Fund and the Future High Streets Fund. The prospectus sets out further detail for local areas on how to submit bids for the first round of funding for projects starting in 2021-22.Asked by: Baroness Valentine (Crossbench - Life peer)
Question to the HM Treasury:
To ask Her Majesty's Government what is the relationship between (1) the UK Shared Prosperity Fund, (2) the Stronger Towns Fund, and (3) the Levelling Up Fund.
Answered by Lord Agnew of Oulton
The Government is committed to levelling up opportunities across the UK, which we will deliver by boosting jobs, wages and prospects for all communities so that everybody gets the same access to opportunities in life. The recent Spending Review confirmed investment to support this agenda, including £220m in 21/22 to support local areas across the UK to pilot programmes and prepare for the introduction for the UK Shared Prosperity Fund; £621m in 21/22 to regenerate towns through the Towns Fund (which includes both the ‘Stronger Towns Fund’ and the Future High Streets Fund); and £4.8bn for the UK-wide Levelling Up fund to invest in local infrastructure that has a visible impact on people and their communities.
Asked by: Baroness Valentine (Crossbench - Life peer)
Question to the HM Treasury:
To ask Her Majesty's Government what criteria will be used for assessing bids to the Levelling Up Fund; and what part the indices of multiple deprivation will play in those assessments.
Answered by Lord Agnew of Oulton
The £4.8bn Levelling Up Fund will invest in infrastructure that improves everyday life across the UK, including regenerating town centre and high streets, upgrading local transport, and investing in cultural and heritage assets. The Government launched the prospectus for the Fund at Budget, opening bids UK-wide for the first round of funding starting in 21-22. The prospectus provides guidance to local areas on the process for submitting bids, the types of projects eligible for funding, and how bids will be assessed.
Asked by: Baroness Valentine (Crossbench - Life peer)
Question to the HM Treasury:
To ask Her Majesty's Government when they plan to publish the prospectus for the Levelling Up Fund announced in the Spending Review 2020, published on 15 December 2020.
Answered by Lord Agnew of Oulton
The £4.8bn Levelling Up Fund will invest in infrastructure that improves everyday life across the UK, including regenerating town centre and high streets, upgrading local transport, and investing in cultural and heritage assets. The Government launched the prospectus for the Fund at Budget, opening bids UK-wide for the first round of funding starting in 21-22. The prospectus provides guidance to local areas on the process for submitting bids, the types of projects eligible for funding, and how bids will be assessed.