Latest news with #levellingUp
BBC News
3 days ago
- Business
- BBC News
Barry marina plans in doubt after backer pulls out
Plans to build a marina as part of a multi-million pound overhaul of Barry waterfront are in doubt after a major backer announced it would no longer be financing British Ports (ABP) said it could no longer provide the "significant investment" required to build a marina on the waterfront in Barry, Vale of marina formed part of redevelopment plans which also include a new watersports centre, park, housing and of Glamorgan Council said it was "extremely disappointed" by the decision but that it remained confident the rest of the project could go ahead. The project to develop the waterfront, known as Barry Making Waves, formed the basis of an application for £20m of levelling-up funding under the previous Conservative UK a spending review, in October 2024 Labour Chancellor Rachel Reeves confirmed Barry would receive its funding.A spokesperson for ABP said following its own review, it had come to the "regretful conclusion" that it can no longer "proceed with the significant investment required in a marina"."We are looking at the right, viable ways we can contribute to the project and council's goals," they said, adding the company wanted to contribute to "more growth and prosperity for Barry".Council leader Lis Burnett described the decision as a "clear setback" but said she was confident the project would still go ahead."We believe the project can be delivered without the marina component, subject to UK government agreement," the Local Democracy Reporting Service RT Davies, Conservative Member of the Senedd (MS) for South Wales Central, described the decision as "extremely concerning"."The marina is a key part of plans to level up Barry and losing this investment is a huge blow," he said, adding that action was required to attract new Hooper, a Plaid Cymru councillor for the Barry waterfront area, said he was "surprised" by the announcement, and that the market testing "should have been completed long ago"."We in Barry need answers. Why was so much time and energy sunk into these plans if business partners hadn't already carried out their due diligence?"
Telegraph
4 days ago
- Business
- Telegraph
Reeves plans revival of Johnson's levelling up plan to counter Reform
Rachel Reeves is planning to revive Boris Johnson's levelling up agenda to take on Reform. The Chancellor is overseeing changes to Treasury spending rules that prioritise investment in the most productive parts of the UK. A rewriting of the Green Book used by Treasury officials will see more money directed to Red Wall constituencies where Labour has fallen behind Nigel Farage's party. The change could come as soon as next month in the Spending Review, according to The Times. Labour is now in second place in many of the party's former heartland seats in the north of England. After the 2019 election, at which those Red Wall areas fell to the Conservatives, Mr Johnson announced plans for similar changes to Treasury spending rules to send more investment to the north. Many of those constituencies flipped back to Labour at last year's general election but are now at risk of falling to Reform, polling shows. A survey by Merlin Strategy this week found that almost half of voters in those areas disapprove of Labour's benefits reforms, while polling at national level shows Reform is ahead of Labour by 11 points. In Doncaster, previously a safe Labour area, Reform won the most council seats at this month's local elections. The party also picked up the new mayoralties of Greater Lincolnshire and Hull and East Yorkshire. The Green Book changes could direct tens of billions of investment into infrastructure, energy and regeneration projects in the North of England. The approach is similar to Mr Johnson's attempt to woo Red Wall voters. He renamed the housing department the Department for Levelling Up, Housing and Communities, and created pots of high street regeneration investment that was allocated to northern constituencies. That name was scrapped by Labour in July and replaced with the previous title, the Ministry of Housing, Communities and Local Government. Ms Reeves is likely to have around £100 billion of investment spending to distribute to projects across the UK in her June 11 announcement, despite a wider departmental spending squeeze. Labour's fiscal rules allow the Chancellor to borrow money if it will be invested, but not if it will be used for day-to-day spending. The projects are likely to focus on Labour's priority areas of economic growth, green energy and healthcare. During last year's election campaign, Sir Keir Starmer promised that he would make life better for voters in all parts of the country. Downing Street has since launched an anti-Reform strategy focused on 'delivery', which includes more action on potholes. But Labour's political team now consider Reform to be the Government's main opposition, while the Conservatives languish in fourth place in some polls. In a speech on Thursday, Sir Keir described Mr Farage as 'Liz Truss all over again' and told workers: 'You cannot trust Farage with your future and your jobs.' 'Unlike Nigel Farage, I know what it's like growing up in a cost of living crisis. I know what it's like when your family can't pay the bills, when you fear the postman, the bills that may be brought.'
