More than £2.5bn in funding agreed by the previous government for local growth is stuck in limbo, a think-tank has found.
Cash allocations to communities through the third round of levelling up funding, the community ownership fund, and the long-term plan for towns were paused or put under review after the General Election was called in May.
Clarity on the funding is expected in the Autumn Budget on Wednesday.
Power to Change, a think-tank that supports community business, said the Government had ‘a real opportunity to make change happen’.
Chief executive Tim Davies-Pugh ‘Our experience tells us that where possible, funding should remain with councils who must work closely with their local communities to ensure this money is spent on the areas that will make a difference, creating a positive result from this situation.
‘Longer term, we ask the Government to significantly change its approach to funding regeneration projects, putting trust in people with skin in the game like community businesses to make decisions about their local area.’
