Unlocking the potential of new community funds

The pandemic has shown the urgent need for place-based approaches to rebuilding local economies and communities. Health services can play a significant role in local economic recovery by driving local projects and agendas for the benefit of population health and tackling health inequalities.

This briefing explores a range of new or remodelled funding mechanisms that will play an important role in the emergence of place-based projects. This funding will address issues that matter to economies and communities. It also presents an opportunity to closely integrate local growth planning with that of the health and care sector.

Key points

• During the 2021 Budget, the Chancellor announced a £1 billion investment covering 45 new Town Deals to drive long-term, local economic and productivity growth, building on the 101 towns allocated in 2020. Three new funds were also announced in March to support levelling up and community regeneration.
• The funding covers a range of areas, both capital and revenue, with areas of investment including: urban regeneration infrastructure; skills, enterprise and employment; growing local economies; and protecting community and cultural assets.
• Integrated care systems, integrated care partnerships, primary care networks and NHS organisations should be aware of the increased investment coming into their town or local area and play an active role in shaping investment priorities and project proposals.
• The £4.8 billion Levelling Up Fund will invest in high-value local infrastructure to ‘level up’ parts of the country with lower pay, work opportunities, health outcomes and life chances, including regenerating town centres and high streets, upgrading local transport, and investing in cultural and heritage assets.
• The £220 million Community Renewal Fund provides local areas with investment to level up and create employment opportunities in areas of the UK where they are most needed, and to support the transition from EU Structural Funds to the UK Shared Prosperity Fund in 2022.
• The £150 million Community Ownership Fund will be available from June 2021 to help ensure that communities in the UK can support and continue benefiting from the local facilities, community assets and amenities most important to them.
• These funds should be seen as an opportunity to collaborate around the planning and resourcing of public service provision across communities. We recommend that members engage with the lead local authority and/or community groups in the coming months, as appropriate.