Peterborough's £22 million funding boost welcomed by MPs and councillors

Today it was announced Peterborough was getting the money to help 'level up' the economy in the city.

MORE: Peterborough given £22 million to 'level up' city's economyWhile the move has been welcomed, Cllr Shaz Nawaz, leader of the Labour group on Peterborough City Council, said there were areas of the city that would benefit from the funding. He said: "It’s great that we will receive £22m. Some of those funds need to be spent in Millfield. The area is in desperate need of investment. The council promised to invest £7.5m but failed to do invest it and withdrew the funding.

"We need to strengthen arts and leisure offering. We also need to level up in the left behind areas. For the city to improve as a whole we need to invest across the city. That is crucially important."

Peterborough MP Paul Bristow said: “I am so happy that the City Council plan, and my lobbying has paid off. We have all have worked hard for this. This Government is putting its money where its mouth is and backing Peterborough.

“With all of our partners, we are going to make this New Towns Fund money work for our City. It will kickstart the regeneration our City Centre needs, build a new learning and culture hub on Bridge Street, and help make our hopes for Peterborough a reality.

“My job is to make sure the levelling up agenda means Peterborough gets the focus we deserve. Our potential is there for everyone to see. With this money in place the future for our City will be bright.” 

North West Cambridgeshire MP Shailesh Vara said the funding would 'make a real difference' in the city. He said: "This is a significant sum of money and it will really help to make Peterborough a better place to live and work in. I personally spoke with the Government Ministers concerned and I know that Councillor John Holdich and his team at Peterborough City Council, along with Opportunity Peterborough and local businesses and community leaders also put in a huge amount of work to secure these funds.

"This money is part of the Conservative Government’s £3.6 billion Towns Fund aimed at levelling up economies outside the big cities and it will make a really positive difference to our city as we move forward.”

Matthew Bradbury, independent chair of the Peterborough Towns Board, said: “This positive indication from the Government that it is willing to invest in our city has shown the time really is now for Peterborough. Our economy has begun to bounce back, from the lockdown. Investment in Peterborough continues to be strong with a lot of new development planned, or already underway. The Towns Fund offers an opportunity to develop the infrastructure the city will need to support its growth, promote the wellbeing of residents, encourage further business investment and move the city closer to its goal of becoming carbon neutral.”

Councillor John Holdich, leader of Peterborough CIty Council, said: “We want to build a Peterborough for the future, one that our children and grandchildren can be proud to live in.

Our city has a rich heritage and a diverse, yet unified population. With Government funding support we can make our community even stronger and create a city of growth, prosperity and opportunity.”