Stronger Towns Fund
£1.6 billion fund targeted at towns to create new jobs, help train local people and boost growth.
Applies to England
Documents
Details
The Communities Secretary announced on 4 March 2019 a new £1.6 billion Stronger Towns Fund for England. This fund will build on the success of City Deals, which were agreed in 28 of England’s biggest conurbations.
£1 billion of the new fund will be allocated using a needs-based formula, with the remaining £600 million being available through a competitive process.
The formula is based on a combination of productivity, income, skills, deprivation metrics and proportion of the population living in towns. This targets funding at those places with economies that are performing relatively less well to the England average, whose residents are living on lower incomes, and where larger proportions of the population have low skill attainment.
A full list of these notional regional 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 |
Note: some regions are not exactly equivalent to NUTS1 region definitions.
A technical Q&A is available above and will be updated regularly. The government will publish a prospectus for the new fund in due course.