Great Yarmouth lands £20m in budget to transform town
- Credit: Archant
A Norfolk coastal town is set to "take advantage of the modern age" as it receives £20m in funding to transform the town.
Chancellor Rishi Sunak today confirmed in his second-ever budget that Great Yarmouth had secured £20.1m of its Town Deal bid.
The borough's MP Brandon Lewis said the news was "fantastic" and a real boost to the Covid-stricken seaside economy.
He said: "I am delighted another cash injection will be coming into our community.
"This funding will not only allow for crucial investments to be made, but will act as a catalyst for further progress.
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"It is yet another example of how this Conservative government is making sure that we build up Great Yarmouth so that we are ready to take advantages of the opportunities offered by the modern age.”
Projects set to receive a share of the funding include the restoration of the Winter Gardens and Ice House, development of a new operations and maintenance centre in South Denes, the upscaling of North Quay and refurbishment of the rail station.
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Meanwhile on Boxing Day 2020 the town was named as the only Norfolk beneficiary of the government's Future High Streets Fund, receiving £13.7m. It also received £8m from the Getting Building Fund - bringing the total investment announced in the last seven months to £42m.
The council plans to use the money for improvements to the town's Market Place, an 89-strong home redevelopment at The Conge, the creation of a new heritage centre and funding for green initiatives.
Construction of the Third River Crossing - costing £120m - is also underway.
Henry Cator, chairman of the Town Deal board, said the plan was to realise "a vibrant coastal economy", while council leader Carl Smith and opposition leader Trevor Wainwright said they were "overjoyed" to have unlocked a "phenomenal" amount of funding after months of uncertainty.
On top of today's budget windfall, Mr Lewis added that the Town Deal funding came with an £150,000 "gateway" bonus designed to help the town devise a strong bid for yet another new government scheme: the Levelling-up Fund.
The £4.8bn Levelling-up package, aimed at supporting high street regeneration, cultural assets and local transport in the country's most deprived areas, will be announced at the Spending Review.
Currently, Great Yarmouth is ranked as one of the government's "number one priorities" in its levelling-up agenda, alongside swathes of northern England and other coastal areas.