UK Community Renewal Fund

Earl of Clancarty Excerpts

Wednesday 8th December 2021 Lords Chamber

[Lord Greenhalgh (Con)]

The UK community renewal fund will ultimately be financed by the taxpayer, although it is the successor to the EU structural funds. It is important to test things out with the community renewal fund, so that we get it right when we introduce the shared prosperity fund, which will be worth over £2.6 billion over the next three years.

[The Earl of Clancarty (CB)]

My Lords, I worry that the Government are not addressing what community renewal means in its wider, profounder sense. This funding, welcome as it is to those who receive it, is taking place against the reality of councils, particularly in deprived areas, that are so starved of money that they are contemplating selling off important community assets such as theatres and children’s centres. Will the Government look more carefully at the meaning of community, rather than seeing it solely as new build and private enterprise?

[Lord Greenhalgh (Con)]

I should probably declare my commercial interests before I answer the question. The reality is that local government has had a pretty generous settlement. The core spending power has increased.