Spennymoor County Councillor Luke Allan Holmes and Dehenna Davison MP have welcomed the decision to give Spennymoor access to a £20m long-term endowment-style fund after lobbying the Government for funding for town centre improvements.
The Long-Term Plan for Towns, set out by Prime Minister Rishi Sunak, will allocate a ten-year endowment-style fund to be spent on local people’s priorities, like regenerating local high streets and town centres, improving transport and securing public safety.
This long-term commitment will allow the town to plan for its future, rather than the end of the financial year.
Spennymoor has been selected as one of the first 55 towns to benefit from the fund. Local people will have the opportunity to have their say on where the funding will be invested through new Town Boards.
Spennymoor will also benefit from access to a new toolkit of regeneration powers to unlock more private sector investment by auctioning empty high street shops, reforming licensing rules on shops and restaurants, and supporting more housing in town centres.
In addition to this direct support for Spennymoor, the Government is launching a Towns Taskforce to support towns in England, helping the newly formed Town Boards to develop their plans, and advise them on how best to take advantage of government policies, unlock private investment and engage their communities.
The Government will work with local councils and the devolved administrations to determine how towns in Scotland and Wales will benefit from funding and powers under the long-term plans.
Cllr Holmes said: “I am delighted that Spennymoor has been selected as one of the first 55 towns to benefit from the Conservative Government’s new Long-Term Plan for Towns, securing a brighter future for residents. Local residents will be delighted to hear Spennymoor is getting the support it deserves, showing the Government’s levelling up agenda in action.”
Minister for Levelling Up, Jacob Young MP said: “The Conservative Government’s new £1.1 billion Long-Term Plan for Towns will transform many of our towns that have been left behind for far too long. This first wave of 55 towns will receive £20 million in funding to help deliver their new long term plans and secure a brighter future for local residents as part of our levelling up mission.”
Spennymoor's local community newspaper.
