Ryde Confirmed to Receive £20m Regeneration Funding

Ryde is confirmed to receive a £20m regeneration fund, despite previous worries that the new government might discontinue it. This financial allocation was initially announced in September 2023 as a Conservative levelling-up initiative but had been under review since Labour assumed power in July. The funding is designated to address local residents’ priorities, including the revitalization of town centres and improvements to transport. Joe Robertson, the Conservative MP for Isle of Wight East, stated that the confirmation of the funding for Ryde, following the budget announcement, was “very welcome news.” The Ryde Town Board is scheduled to receive the money over the next seven to 10 years, provided their plans gain acceptance from the Department for Housing, Communities and Local Government. Mr. Robertson expressed his desire to see investments in community safety, such as a CCTV system for the town. He remarked, “It would be real time, monitored by officers at Hampshire Police control room, so it would make keeping an eye on what’s happening on the High Street much easier.” He also suggested that utilizing some of the funding to regenerate disused buildings, including the ice rink, would be a sensible approach. “That could generate private investment too.” A total of fifty-five towns are set to benefit from a share of £1.1bn. Alex Norris, the Minister for Local Growth, informed MPs representing the involved towns that they must submit their spending plans by next spring for official approval. Isle of Wight Council leader Phil Jordan conveyed his “relief” after having previously raised concerns about the delay in the funding decision. He added, “It gives us a little more time to work on our project plans too.” You can follow BBC Hampshire & Isle of Wight on Facebook, X (Twitter), or Instagram. Copyright 2024 BBC. All rights reserved. The BBC is not responsible for the content of external sites. Read about our approach to external linking.