Funding for neighbourhood regeneration
This paper explores previous governments’ approaches to neighbourhood regeneration and what the Labour government needs to prioritise.
Why have previous government policies failed when it comes to neighbourhood regeneration? Among the key reasons are that funding decisions have historically been too centralised and the system has relied on a competitive bidding process.
Our new paper, Funding for neighbourhood regeneration, explores previous governments’ approaches to neighbourhood regeneration and what needs to happen now that the new government is in. It looks at where and why previous policies have not worked, lays out what needs to happen next, and argues that funding should be attuned to local needs and targeted to areas that need it most.
It also looks at why Local Trust is calling for the new government in July 2024 to prioritise an expanded Community Wealth Fund (CWF) that targets the doubly disadvantaged neighbourhoods that need it most. The campaign for a CWF aims to secure funding for 225 of these neighbourhoods in England from the dormant assets scheme. They are the places which have the highest levels of deprivation and the weakest social infrastructure.
