Belfast City Council, with the support of partners, has made the case to Westminster for the city to receive its fair share of regeneration funding and enhanced powers, in line with other UK cities, ahead of the Chancellor’s Budget Statement on 26 November.
The Belfast Place Based Growth Proposition is seeking £250 million to create a City-Wide Regeneration Fund to deliver catalytic change through:
Northern Ireland currently receives nearly half the regional average spend on regeneration and local growth per capita, compared to Scotland, Wales and English regions.
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Several specific regeneration funds available in the rest of the UK have not been available in Northern Ireland, which, despite our strong economic performance, has led to a ‘regeneration deficit’, with underinvestment and fragmented powers resulting in missed opportunities for economic growth, as well as positive social and environmental outcomes.
Significant UK devolution regeneration related funding has recently been made available to other UK core cities on foot of the English Devolution White Paper and via funding to Homes England for a range of regeneration activities. This is providing the opportunity for these cities to advance transformational place-based projects for their areas driving growth and delivering regeneration at pace.
Belfast’s Place Based Growth Proposition focuses on opportunities which will benefit both the city and the whole of Northern Ireland. It is seeking targeted investment – comparative to funding available in other UK cities – which will better equip Belfast to drive growth for Northern Ireland and the UK. It has been informed by significant engagement with a range of cross-sector stakeholders and in line with the Belfast City Centre Regeneration & Investment Strategy (BCCRIS) Stocktake findings which identified the following priorities in 2024:
The stocktake also highlighted that innovative approaches to funding, new approaches to delivery and continued partnership working across public, private, third sectors and communities was required to leverage the city centre’s full potential, which will benefit both the city and wider region.
Speaking after today’s Strategic Policy and Resources Committee meeting where the Belfast Place Based Growth Proposition was discussed, Chair, Councillor Natasha Brennan, said: “Belfast makes such a compelling investment proposition – just look at our talent, our strengths that we’re boosting through the Belfast Region City Deal in areas like FinTech and life and health sciences, advanced manufacturing and the creative industries – as well as our plans to increase city centre living and city wide housing led regeneration, to regenerate the Assembly Rooms and to open Belfast Stories, a world-class public space, visitor experience and creative hub, by 2030. There are a number of public and private projects that could really turn the dial on our city’s growth and deliver on economic, social and environmental outcomes.
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“We have so much potential to unlock, but we’re falling well behind other core cities when it comes to regeneration related funding available – and that’s harming our ability to compete in the global marketplace and drive growth in our city and wider region. However, we are confident that with equivalent funding we can realise transformational growth that will lift all our people and places.”
Chair of Belfast City Council’s City Growth and Regeneration Committee, Councillor Ian McLaughlin, said: “We know what Belfast needs. We’ve got the evidence base, the experience, and we’ve prepared the conditions for success, through a decade of community and stakeholder engagement developing and delivering the Belfast Agenda and our city centre regeneration and investment strategy.
“Investing in Belfast through a transformative City-Wide Regeneration Fund makes sound business sense – it’s money that will enhance the Belfast Region City Deal’s impact and generate significant and long-lasting returns for Northern Ireland and the UK, because we’re uniquely positioned and ready for growth.”
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