Skip to main content

Market Renewal Pathfinders

Volume 402: debated on Thursday 3 April 2003

The text on this page has been created from Hansard archive content, it may contain typographical errors.
The Parliamentary Under-Secretary of State, Office of the Deputy Prime Minister
(Mr. Tony McNulty)

The nine Market Renewal Pathfinders are making good progress in developing their long-term action programmes to turn around their areas which suffer from low demand and abandonment.The bulk of the £500 million Market Renewal Fund announced in

Sustainable Communities: Building for the Future will be allocated in negotiation with each pathfinder on the basis of proposed outputs and outcomes included in their strategic schemes. Completion of these schemes is essential to ensure future large-scale investment is well informed and based on robust plans.

We recognise that pathfinders are at different stages in completing their schemes, and whilst we expect three of the pathfinders to complete schemes this year, the remainder will not complete schemes before the end of the financial year.

I am therefore announcing today an initial allocation of up to £4 million of market renewal funding for those who do not expect to complete their schemes this year. This will mean that alongside development of these robust schemes, early action on the ground can continue in the areas that need it most.

Pathfinders who complete their schemes this year will be allocated levels of funds to support the proposed programmes, as agreed in negotiation with the Office of the Deputy Prime Minister. Prior to agreement, these pathfinders can, where appropriate, undertake early action that will underpin the wider action plans they are developing in their strategic schemes.

This represents a key step in delivery of our commitment to tackle low demand and abandonment.