Cornwall getting over £130m to help 'level up' coastal communities

We're told the cash will go towards boosting local businesses and investing in local people

Author: Sarah YeomanPublished 13th Apr 2022

Coastal communities in Cornwall and the Isles of Scilly are being given over £130 million to help them 'level up'.

The money is coming from the UK Shared Prosperity Fund (UKSPF), which the government says 'delivers on its commitment' to match our previous EU funding.

The cash will go towards helping to boost local businesses and invest in local people.

Officials say the UKSPF will help regenerate communities, tackle economic decline and reverse the UK’s geographical inequalities and is targeted at areas with higher levels of need.

We are told that deprived communities including Cornwall and the Isles of Scilly will 'reap significant benefits' from the fund, which is targeted at communities that truly need it.

Minister for Levelling Up Neil O’Brien MP said: “The UKSPF will allow local leaders and communities in Cornwall and the Isles of Scilly to directly tackle the issues affecting their local area, whether that’s access to more opportunities or high street regeneration.

“This new and innovative approach to empowering local communities is a key part of our levelling up agenda, now unshackled by previous EU restrictions.

“I look forward work closely with local leaders in Cornwall and the Isles of Scilly to see the creative, ambitious choices that communities make as they level up and take charge of their destinies.”

The UK government says it is 'empowering' local areas to decide how to spend the funding based on their own priorities that matter to them, from supporting local businesses and employment opportunities to reviving high streets and reducing anti-social behaviour.

This is addition to other levelling up funding, including the £4.8 billion Levelling Up Fund and £150 million Community Ownership Fund. The government is also making available an additional £3.7 billion to councils this year and a generous offer of £8.7bn to Scotland, Wales and Northern Ireland under devolution settlements.

Officials say places like Cornwall and the Isles of Scilly will also benefit from the upcoming devolution deal as a part of the government’s commitment to 'level up every corner of the UK' and' empower local communities to have more autonomy' from central government.

The allocation formula for UKSPF takes into account both the local population data, and a broadly based measure of need, including factors like unemployment and income levels. This is to ensure the most amount of money is going to areas which will truly benefit from the fund.

You can hear all the latest news on the hour, every hour.