As part of the Budget today the Chancellor confirmed the government is launching the prospectus for the £220 million UK Community Renewal Fund.
This will support communities across the UK in 2021-22 to pilot programmes and new approaches as the government moves away from the EU Structural Funds model and towards the UK Shared Prosperity Fund.
To ensure that funding reaches the places most in need, the government has identified 100 priority places based on an index of economic resilience to receive capacity funding to help them co-ordinate their applications.
Cornwall will be receiving funding as part of the UK Community Renewal Fund, to allow work to take place in each of the six Cornish constituencies to draw up plans for future use of the £220million funding that has been announced.
Commenting, St Austell and Newquay’s Member of Parliament Steve Double said:
“I am delighted that St Austell and Newquay, along with the other Cornish constituencies, has been chosen as a priority for the £220 million UK Community Renewal Fund and that the Government is already releasing seed funding to allow us to prepare business cases for the best use of this money.”
“This is the first step in replacing the unfit for purpose European Structural Funds after Brexit and I look forward to working with the Government to ensure this new money is better targeted and works for the maximum benefit of people in Cornwall.”