Rachel Reeves pledges £13.5 million investment in former industrial heartlands

Chancellor Rachel Reeves has announced £13.5 million in support to former coalfield areas in a bid to create hundreds of new jobs and business opportunities.

Reeves said the funding would bring new investment to six overlooked areas in decline and losing local talent.

The chancellor added: “If you are an entrepreneur in a former coalfield area wanting to start your own business – or are already a business owner there wanting to expand your company – we are backing you.”

The areas set to receive funding include Cowdenbeath in West Fife, St Helens in Merseyside and Seven Sisters in Neath Port Talbot. The Government’s Growth Mission Fund is paying for half of the new industrial developments, housing small and medium-sized businesses. The Coalfields Regeneration Trust will fund the other half.

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Speaking to LabourList, Carolyn Harris, MP for Neath and Swansea East, said the announcement came after years of neglect and underinvestment and was a “vote of confidence in communities like Resolven and Seven Sisters”.

Harris said: “For too long, our communities have been left behind. I welcome this commitment to changing that and ensuring our former coalfield communities get the investment and opportunities they deserve.”

Melanie Ward, MP for Cowdenbeath and Kirkcaldy, has also welcomed the announcement and the Chancellor’s decision to back local jobs and businesses.

She said : “This investment will transform derelict land into a thriving location for local businesses, creating over 100 jobs for people in our community and providing new opportunities. It’s exactly the kind of support Cowdenbeath needs and deserves.”

The Government’s Growth Mission Fund is a £240 million capital investment fund, announced last year, designed to fast-track and expedite local regeneration projects that drive job creation and economic renewal.

The full list of areas set to receive funding : 

• Cowdenbeath (Perth Road)
• St Helens (Robins Lane, Sutton Fold)
• Thoresby (Thoresby Vale Colliery)
• Ashington (Ashwood Business Park)
• Resolven (Vale of Neath Business Park)
• Seven Sisters (Nant y Cafn Business Park)

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