The Cabinet Secretary for Finance, Economy and Fair Work, Derek Mackay, revealed the Scottish Government’s draft 2019/20 budget this week. It features the following regeneration-related plans:
- A new £50m Town Centre Fund to “enable local authorities to stimulate and support place-based economic improvements”;
- Increased investment in City Region and Regional Growth Deals, which is set to rise from £122m in 2018/19 to £187.8m in 2019/20;
- Streamlining the Empowering Communities Fund, “which will seek to include multi-year funding” for community led regeneration initiatives;
- A commitment to a Place First Approach in order to “increase the scope and impact of community led design processes”;
- £20m for the Regeneration Capital Grant Fund and £8.4m capital investment in the South of Scotland Economic Partnership.
The full draft budget is available here. As a minority administration, the Scottish Government require support from some opposition MSPs before its budget can be approved by Parliament.