Wales allocated £111 million from UK Government’s Levelling Up Fund
Seven projects have been allocated £111 million from the UK Government’s Levelling Up Fund to help create jobs, drive economic growth in historically overlooked areas in Wales.
A total of £27 million has been awarded to Neath Port Talbot after two successful bids, including £15 million to regenerate Port Talbot town centre with improvements to Civic Square, the refurbishment of Princess Royal Theatre and improvements to green space at Riverside.
A fund of £12 million has also been awarded to restore and reopen the historic Grade II listed Newbridge bridge to pedestrians and cyclists, whilst Newbridge Road and Riverside Road will also be upgraded.
£20 million has been awarded to the Barry Dock waterfront to create a public area with a new business centre and food and drink outlets, along with almost £18 million to encourage healthier ways of travel in Powys. This includes restoring footbridges and improving the National Cycle Network.
Further funding was awarded to Llanelli town centre for the renovation of derelict buildings, regeneration projects in Denbighshire, and improved public accessibility across Pembroke town.
Today’s announcement builds on previous Levelling Up investment into Wales through funds such as the UK Shared Prosperity Fund, Freeports and the Long-Term Plan for Towns.
The total figure awarded to Wales has now surpassed £1.2 billion in addition to other investments in local growth, such as £790 million of UK Government investment in City and Growth Deals in Wales.
Levelling up Secretary Michael Gove said: “Levelling Up means delivering local’s people’s priorities and bringing transformational change in communities that have, for too long, been overlooked and undervalued.”
He continued: “This funding sits alongside our wider initiatives to spread growth, through devolving more money and power out of Westminster to towns and cities, putting in place bespoke interventions to places that need it most, and our long-term plan for towns.”
Secretary of State for Wales David TC Davies said: “This is another hugely significant investment in transformative projects across Wales. From town centre regeneration to improving travel infrastructure, these schemes will have a positive impact for generations to come.”
He added: “The UK Government continues to invest in communities throughout Wales as we work towards our aims of growing the Welsh economy and levelling up the UK.”
A total of 21 projects in Wales received over £329 million in the first two rounds of the Levelling UP Fund. The UK Government has now exceeded the minimum 5% it originally ringfenced for Wales at the outset of the fund, with Wales receiving over 9% across the three rounds totalling £440 million overall for 28 projects.
The Chancellor also confirmed the Investment Zones programme in England will be extended from five to ten years and the window to claim Freeport tax reliefs in England will be extended from five to ten years until September 2031.
The UK Government says it will work with the Welsh Government with the intention of delivering the same extension to Investment Zones and Freeports in Wales.
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