Town is in line for up to £25m in Govt funding
THE leader of Charnwood Borough Council has welcomed news that Loughborough is in line for up to £25m of funding to regenerate the town.
Coun Jonathan Morgan says the announcement by Local Government Secretary Rt Hon Robert Jenrick is a massive opportunity for Loughborough.
The Government has revealed that 100 places around the country will be invited to develop proposals for a new generation of multi-million-pound Town Deals.
It says communities, businesses and local leaders will 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.
Coun Morgan said: “This is fantastic news and presents us with a huge opportunity to shape the future of Loughborough for many years to come.
“This is a significant funding announcement and the borough council will work with residents, businesses, partners and other organisations to bring forward proposals which deliver major benefits for our communities.
“I look forward to seeing further details about the funding process and working with partners to harness this opportunity.”
Local Government Secretary, Rt Hon Robert Jenrick MP, said: “We want to level-up our great towns, raising living standards and ensuring they can thrive with transformative investment in transport, technology, culture.
“I will now work with local people from the 100 communities announced to agree proposals to invest up to £25m in each place. I hope these deals will provide the investment and the impetus for long-term renewal ensuring each town can look to the future with a new optimism.”
However Stuart Brady, Labour’s candidate to be Loughborough’s next MP was not wholly impressed with the announcement.
He told the Echo: “The timing of this announcement before a likely election is seriously suspect.
“Local Tory leader Jonathan Morgan said that this meant £25m for Loughborough. That is just spin. There is no money actually allocated to Loughborough, we just have the right to apply for it. skills and
“The amount of money across the country for 2020/2021 amounts to less than 10 per cent of the headline figure. People are wise to this kind of electioneering.”
In reply Coun Morgan told the Echo: “I am focused on how we can make the most of this opportunity for the people and businesses of Loughborough – and intend to submit bids for every penny of the £25m being offered to the town.
“We need to ensure the town remains a vibrant place to visit, work and live, and we will work with partners and businesses across Loughborough to make sure that the money is invested well.
“We will look at the detailed criteria once published, and will then move forward from there.”