Stronger Towns Fund Debate
Full Debate: Read Full DebateClive Betts
Main Page: Clive Betts (Labour - Sheffield South East)Department Debates - View all Clive Betts's debates with the Ministry of Housing, Communities and Local Government
(5 years, 5 months ago)
Commons ChamberMy right hon. Friend rightly makes the distinction between the two elements of the fund and the town deals that we want to see emerging from both of them. On the first element, we have allocated this on the basis of a number of different factors, but I will be publishing a prospectus—that is the next stage—to set out the application process and the basis for the applications we want to see coming through from the towns that can apply under the £600 million fund. We will be setting that out in detail so that towns such as Harlow, which I know he is so passionate about, are able to apply.
The Secretary of State will be aware that, if the UK were still a member of the EU after 2020, South Yorkshire would again be eligible for less-developed region status because its economy has fallen back against EU averages since 2014. If it were entitled to EU funding, South Yorkshire would receive £1 billion over seven years. So either his announcement today is totally inadequate, or he is going to promise that, under the shared prosperity fund, South Yorkshire will get exactly what it would have got under EU funding if we were still in the EU.
One of the things that would encourage investment in the right hon. Gentleman’s area is getting the devolution deal done in relation to South Yorkshire, Sheffield and the Sheffield city region, as he well knows. He makes an important point about the distinction between this fund and the UK shared prosperity fund, which will follow. Those are separate, and there will be a consultation on the prosperity fund and, indeed, the settlement of amounts in the spending review. There is more to come, so this fund should not be seen in isolation. It links into more funding and more structures that will support growth in all areas.