New regeneration policy launched by Welsh Government

The Welsh Government has launched a new regeneration policy scrapping the Heads of the Valleys scheme.

Up to £30 million a year will be made available with all of Wales being able to apply for funding – not just the current seven regeneration areas.

Huw Lewis, Minister for Housing, Regeneration and Heritage, said: “With the current squeeze on public finances we have to ensure that every pound spent – be it on health, transport or education – has a regenerative consideration.

“The scale of the challenge underlines the need for us to work collectively across government and in collaboration with the public, private and third sectors to support innovation and share good practice.

“Taking a more collaborative and targeted approach to regeneration across Wales will mark a change in the way we invest in our towns and communities for a decade to come. Investment for regeneration will no longer be stopping at boundaries or borders.

“We will be guided by Local Authorities to bring forward cases for investment that will help bring lasting improvement to our communities, tackle poverty, deprivation and mitigate the effects of welfare reform.

“As the economic crisis – and uncertainty – persists, there is no second chance for those of us who serve our communities, to help them create new opportunities.”

Local authority area partnerships will be tasked with developing bids for the funding.