To ask Her Majesty's Government what steps they are taking to unlock private investment in coastal communities not covered by a freeport.
27 July 2022
My Government places great emphasis on ensuring Coastal Communities are at the forefront of the Levelling Up agenda. Our £4.8 billion Levelling Up Fund will invest in every part of the UK, including coastal areas and I am keen to see bids come forward from coastal communities in the second round of the Fund. Regeneration and Infrastructure projects - which have the potential to boost private investment - will be a key focus of this work
Furthermore, the UK Shared Prosperity Fund will provide £2.6 billion of investment across the whole of the United Kingdom by 2025, with building pride in place, including in coastal communities, a key theme of the Fund's work. Every coastal community in the UK will receive an allocation and places will be empowered to identify and build on their own strengths and needs at a local level
Levelling Up funding will unlock the potential of coastal communities by regenerating town centres and getting infrastructure match fit, making coastal communities a more attractive place to do business and boosting private investment.