£1bn Future High Streets Fund expanded

Prime Minister Boris Johnson has confirmed that an additional 50 towns, from Dudley to Dover, will benefit from the £1 billion Future High Streets Fund.

The funding could be used by the successful 50 areas to improve transport and access into town centres, convert empty retail units into new homes and workplaces, and invest in vital infrastructure. The new regions will join 50 successful areas already shortlisted to develop plans to reinvent their high streets.

A £3.6 billion Towns Fund announced in July included an additional £325 million for the Future High Streets Fund, taking the overall Fund to £1 billion as the government looks to drive forward local growth. The scheme was first launched in December 2018.

Johnson said: “Our high streets are right at the heart of our communities, and I will do everything I can to make sure they remain vibrant places where people want to go, meet and spend their money.

“But with our town centres facing challenges, we’re today expanding the High Streets Fund to support over 100 high streets to regenerate – backed by £1 billion of vital investment. This scheme is going to reenergise and transform even more of our high streets – helping them to attract new businesses, boost local growth, and create new infrastructure and jobs.”

Communities Secretary Robert Jenrick added: “High streets have a crucial role to play as we work to grow the economy of all parts of the country. Our £1 billion Future High Streets Fund is key to delivering this, empowering local leaders to help transform their high streets and town centres as consumer habits change, by investing in housing, workplaces, infrastructure and culture.

“Interest in the Fund has been huge, and with so many strong applications, I am extending the number of towns moving forward to the next phase and getting a chance to develop their proposals. The government is going to level-up our regional economies and as Communities Secretary I am proud to be driving this agenda forward.”