The Prime Minister’s ‘New Deal’ for Britain: Additional investment to level up Penzance and St Ives

  • Government to kickstart the economic recovery from coronavirus with £5 billion of infrastructure projects.
  • 101 places to receive at least an additional £500,000 to spend on projects such as improvements to parks, high streets or transport links, including Penzance and St Ives
  • Part of a package of £96 million for town centres and high streets via the Towns Fund, and comes on top of the £3.2 billion provided to local authorities throughout the coronavirus outbreak

Derek Thomas MP has welcomed news that the Prime Minister has announced additional funding to level up Penzance and St Ives. The announcement is part of a wider economic package to accelerate infrastructure projects, fuelling jobs and the country’s economic recovery following coronavirus. 

Towns across England that have successfully been selected to receive investment via the Government’s Towns Fund will benefit from a share of £96m to accelerate investment in their town centres and high streets this year.

As part of this, St Ives and Penzance will receive between £500,000 and £1 million to spend on projects such as improvements to parks, high streets and local transport. They are receiving the funding as two of the 101 towns previously selected for town deals, under the Conservative Government’s plans to level up places across the country.

The Towns Fund is targeted at areas with proud industrial and economic heritage that have not always benefitted from economic growth in the same way as more prosperous areas. Today’s announcement brings the first tranche of money from the Fund to help each area meet some of the immediate challenges they face as a result of COVID-19 and invest in shovel ready projects that will improve their town centres forward, from new cycle lanes and better pedestrian access to repurposing empty shops to create new community spaces.

The Prime Minister has announced £5 billion to invest in Britain’s infrastructure, as part of the New Deal for Britain, in the wake of the coronavirus outbreak. The package of measures, including improving town centres, is designed to upgrade Britain’s infrastructure and skills to fuel economic recovery across the UK.

This builds on the £3.2 billion the Government has provided to local authorities throughout the coronavirus pandemic, to help them keep key local services running. The funding has meant that local authorities have been able to continue to provide essential services, including getting rough sleepers off the street, supporting people who have been shielding and providing vital social care.

Commenting, Mr Thomas said:

“I am delighted that Penzance and St Ives will receive at least £500,000 each from the Stronger Towns fund this year – ahead of schedule – enabling local leaders to accelerate plans that will transform our area and help West Cornwall to thrive as we move beyond the coronavirus pandemic. 

“I welcome the Prime Minister’s commitment to invest in infrastructure to unite and level up the country as we come through the coronavirus pandemic.

“The £5billion to bring forward infrastructure projects of all types, from better connected, more modern high streets to new schools and roads, will help to create new jobs and opportunities across Britain, and I will be fighting to ensure our area gets its fair share.”