Nuneaton and Bedworth’s regeneration plans gain ‘Pathfinder’ status
Published on Thursday, 7th September 2023
Borough Council joins national 'pathfinder' scheme for regeneration funding
Nuneaton and Bedworth Borough Council’s Cabinet has agreed the authority should join a Government ‘Pathfinder’ scheme for regeneration funding.
Whitehall wants to simplify the three funding streams currently in place to boost investment in communities. As it receives funding from all three – Towns Fund, Future High Streets Fund and the Levelling Up Fund (round 1) – councillors believe it makes sense for the Borough Council to join.
The new approach from government should be more efficient, and will allow the 10 councils taking part – including Nuneaton and Bedworth - more flexibility to use the money they have already been granted, so long as it is used on the schemes they originally bid for.
Government announced the scheme in July, and Nuneaton and Bedworth Borough Council’s ruling Cabinet agreed to the proposal at their meeting last night (Wednesday 6 September).
Said Borough Council leader Cllr Kris Wilson:
“It makes sense for us to become a Pathfinder authority for this regeneration funding.
"This should streamline the work we need to do to bring forward the regeneration plans which we have been talking about for so long, some of which are already well under way.
“We know these are difficult times for everyone, and inflation and other pressures are causing headaches for local government, too.
"We have had to review our programme of regeneration due to inflation and increases in interest rates that make borrowing for the future so much more costly, and which have affected so many people.
“This programme should help us keep as much momentum as we can behind our regeneration plans.”
If the pilot scheme is deemed a success, it could be that the Borough helps pave the way for future regeneration schemes around the country.
- More articles in the news archive