Stockport: Cheadle to benefit from new Towns Fund

Cheadle in Stockport has been announced as one of a 100 towns across England to benefit from a £3.6 billion Towns Fund.

The 100 places invited to develop proposals for a new generation of multi-million-pound Town Deals have been announced by Local Government Secretary Rt Hon Robert Jenrick MP.   

The towns eligible for support from the £3.6 billion Towns Fund include places with proud industrial and economic heritage but have not always benefitted from economic growth in the same way as more prosperous areas.

Communities, businesses and local leaders will now join forces to draw up ambitious plans to transform their town’s economic growth prospects with a focus on improved transport, broadband connectivity, skills and culture.

A total of 45 places across the Northern Powerhouse and 30 places in the Midlands Engine are among the 100 pioneers of new Town Deals as part of the government’s commitment to level up all regions by boosting productivity, skills and living standards.

Minister for the Northern Powerhouse and Local Growth, Rt Hon Jake Berry MP said: 

In July, the Prime Minister promised to level up 100 towns across the country, and today we’re delivering that promise.

The best answers for local people will come from local people, that’s why we have listened to people living in these towns and will support them with a mega £3.6 billion fund to drive jobs and economic growth.

Five years on from the launch of the Northern Powerhouse, we are reaffirming our commitment to the people of the North.

The announcement follows the Prime Minister’s confirmation in July of an additional £1.325 billion to support towns as part of a renewed vision to level up our regions, which took the total value of the Towns Fund to £3.6 billion.

The government will soon publish a prospectus to guide towns through the process and set eligibility criteria for funding.

Once approved, new Town Deals will improve connectivity, provide vital social and cultural infrastructure and boost growth – with communities having a say on how the money is spent. Decisions on funding any proposals will be made in due course.

The Town Deals Fund builds directly on the government’s commitment to decentralising funding and decisions away from Whitehall and investing in the growth of local economies and devolving powers through ambitious City and Growth Deals, providing more than £9 billion of funding to Local Enterprise Partnerships and introducing 8 metro mayors in England.  

See the 100 places being supported to develop Town Deals

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