Combined Authority gives green light for £13m market town giveaway

The Mayor of the Cambridgeshire & Peterborough Combined Authority, James Palmer, secured unanimous approval from his Board yesterday (June 3) for a £13.1m giveaway available to eleven market towns.

Applications for the multi-million pound allocation will go to the Board for approval from July 2020 onwards, with a spending deadline of Mar 31 2022.

The market towns included can bid for millions of pounds worth of support to build the future they want for their community, with deliverability considered as a key factor when approving proposals.

All pitches will be required to display how towns will support Covid-19 recovery, accounting for new patterns of homeworking, public transport, the workplace, community space and High Streets.

The region has targets to double its gross value added (GVA) over the next two decades, something that will be underpinned by the Market Towns Programme, with individual plans from each town detailing its own priorities.

The investment will target market towns to drive targeted growth and regeneration and attract more funding from Government and the private sector.

James Palmer, Mayor of Cambridgeshire & Peterborough said:

“It’s absolutely the right time to put money into these unique market towns and I’m delighted today’s decision means they can move forward to the bid stage. They are crucial to the whole region as social and economic hubs and the Combined Authority is committed to helping each prosper, taking their surrounding communities forward with them.

"The Market Towns are Cambridgeshire’s backbone.  They’ve already got a fantastic history and I want them to have a fantastic future. That means investment and that’s exactly what the Combined Authority is putting in.”

The Board also approved today (June 4) the acceleration of a Government retraining scheme to support employment following Covid-19.

The pilot National Retraining Scheme will include project management, leading change, team leadership, operational leadership, digital skills and health and social care.

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