Island town gets £20m for regeneration

The funding is intended to be spent on what local residents would like to see improved

Ryde will still benefit from a £20m regeneration fund, despite concerns it would be scrapped by the new government.

The money was announced in September 2023 as a Conservative levelling-up project but had been under review since Labour came to power in July.

The funding is intended to be spent on local people’s priorities including regenerating town centres and improving transport.

The Conservative MP for Isle of Wight East, Joe Robertson, said confirmation after the budget that the funding was still coming to Ryde was "very welcome news".

The money will be given to Ryde Town Board over the next seven to 10 years, assuming their plans are accepted by the Department for Housing, Communities and Local Government.

Mr Robertson said he was keen to see investment in community safety, including a CCTV system for the town.

"It would be real time, monitored by officers at Hampshire Police control room, so it would make keeping an eye on what's happening on the High Street much easier," he said.

He also believes using some of the funding to regenerate disused buildings, including the ice rink, would be sensible.

"That could generate private investment too."

Fifty five towns will benefit from a share of £1.1bn.

Minister for Local Growth Alex Norris told MPs representing the towns involved they would need to submit their plans for spending the money by next spring before it would be signed off.

Isle of Wight Council leader Phil Jordan said he was "relieved" after raising concerns about the delay in a decision on the funding.

"It gives us a little more time to work on our project plans too."