Growth Fund allocations

The Growth Fund will provide £732m to support the delivery of infrastructure in the three newer Growth Areas and the Growth Points for 2008-09 - 2010-11.

This is part of the £1.7bn Communities and Local Government will be investing across the Growth Areas, the Thames Gateway, Growth Points and Eco-towns during the CSR07 period.

The Growth Fund builds on the experience of the Growth Areas Fund and the Growth Points Fund to provide a new way in which to fund growth which will better serve the needs of local areas.

Instead of funding individual projects from April 2008, the Growth Fund will provide unringfenced block funding to local authorities and partnerships based on an assessment of their Programmes of Development.

As an unringfenced grant, with the exception of reflecting the split between capital and revenue there will be no grant conditions about how or when it is spent.

It will be for local authorities to prioritise how the funding is used in their area. Performance will be monitored through the indicators in the Local Government Performance Framework.

Details of the individual allocations being awarded to locations who have bid for funding can be found below.

Allocations for 2009-10 and 2010-11 are currently indicative. As this was a new funding system Communities and Local Government held a consultation exercise with stakeholders in Spring 2008, the consultation response was published on 31 July 2008. Following the consultation, locations will be invited to submit refreshed Programmes of Development which will be reassessed to confirm allocations for 2009-10 and 2010-11.

The Department has held back an additional £172m to allocate in 2009-10 and 2010-11 to account for changes through the consultation exercise on the process.

The Department hopes to be able to confirm allocations for 2009-10 and 2010-11 in Autumn 2008.