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New Levelling Up Fund using money diverted from Towns Fund


New government levelling up projects are being funded partly by diverting money originally earmarked for the Towns Fund, it has emerged.
A Ministry of Housing, Communities & Local Government source confirmed that around half of the government s new Levelling Up Fund next year will come from reshuffling former Towns Fund money. It has also emerged that £175m of new funding for freeports will include money previously earmarked for the Towns Fund.
Two years on from when the Towns Fund first launched - offering cash to kickstart capital projects in 101 towns - it has been hampered by delays, with resources diverted to deal with the pandemic. Only seven areas have so far had their final funding amounts confirmed, in deals worth £178m. ....

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