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A new government pilot, the High Street Accelerators programme, will be trialling efforts to regenerate high streets in 10 areas across England.
The idea is that communities will work in partnership with local authorities and businesses to tackle problems such as empty shops, anti-social behaviour and a lack of foot traffic on the high street.
The 10 selected areas will each receive an initial £237,000 to kickstart their partnerships. However, they can also apply for a share of a further pot totalling £5 million to improve green spaces and pleasant socialising environments for residents.
Over the next 2 years this funding will be spent and the impact it has on the designated high streets will be evaluated. This will help the government decide on what further action can be taken to revive high streets in these and other areas.
This pilot programme is just one initiative that the government is using to try and revive England’s high streets. New High Street Rental Auctions regulations are also to be introduced later this year that will give local authorities the ability to sell off the rental rights for empty properties to willing tenants. These could include businesses and community groups.
06 Feb 2024
Government borrowing fell to £7.8 billion in December 2023 giving Chancellor Jeremy Hunt more scope to make the tax cuts he has hinted at in the Spring Budget.
Tax cut promises may need to be scrapped as a result of the UK being in an 'unfortunate economic and fiscal bind', the Institute for Fiscal Studies (IFS) has warned.
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