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Funding news - 02/04/2012

Plans for 'Portas Plus' Announced

The Government has responded to Mary Portas' High Street Review; accepting the recommendations and announcing further funding schemes and initiatives to help rejuvinate the country's high streets.

The new support package, referred to as 'Portas Plus' includes:

  • A multi-million pound High Street Innovation Fund - kick started by £10 million of taxpayers money focussed on bringing empty shops back into use.
  • A £1 million Future High Street X-Fund, which will be awarded in a year's time to the locations which deliver the most creative and effective schemes to revitalise their high streets.
  • A National Markets Day, launching a National Markets Fortnight, to celebrate the role markets can play, help aspiring entrepreneurs try out their business ideas, and encourage more visitors to town centres.
  • A £500,000 fund for Business Improvement Districts, to help Town Centres access loans for their set-up costs.
  • Launching a further round of Portas Pilots, to trial some of Mary's recommendations and come up with new ideas to breathe life into underused high streets.

Mary Portas said:

"I've been thrilled by the response of people, Town Teams and communities up and down the country, who have seized this opportunity to come together and form their own ideas. I'm pleased that the response from Grant Shapps today is designed to build on this momentum and give local people the tools they need to turn their creative ideas into reality, along with extra money to bring empty shops back into use."

The Government's response to the Mary Portas review can be found here (opens new window).

Source: Department for Communities and Local Government, 02/04/2012

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