Investment plan to ease the cost of living for residents

Published: 26 July 2022

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Residents in Folkestone & Hythe are to benefit from a £1m UK Shared Prosperity Fund grant.

Following a successful bid to central government, the district council will use the money to support residents experiencing challenges caused by cost of living increases.

Cabinet members approved a local investment plan last week (20 July) which will see support provided through established services within the district. These include community hubs, food banks and local training and advice services.

Interventions will include support to develop skills such as learning to cook on low budgets, healthier eating, reducing food waste and providing financial help.

Low-income homeowner occupiers will be supported to explore energy efficiency measures relating to appliances and domestic boilers. An emphasis on boosting skills in the local green economy also forms part of the scheme.

A local partnership group has been established to develop the investment plan for the district. This is made up of a diverse range of local and regional stakeholders including councillors, council officers, Damian Collins MP, business and school representatives, welfare providers and experts from the economic and volunteering sectors.

The group will also engage with the newly established Carbon Innovation Lab to assess the environmental impact of the projects proposed to be developed and delivered.

Cllr David Wimble, Cabinet Member for the District Economy said: "I'm thrilled such a diverse cross-sector group is guiding the implementation of this investment plan. Using existing services will make sure support is available quickly to those who need it most."  

Leader Cllr David Monk added: "Cost of living increases have created challenges for residents, and I'm delighted we can use this funding to support them.

"This investment plan supports some of the key priorities in our Corporate Plan 2021 - 2030; positive community leadership, supporting a thriving environment with green skills, boosting a vibrant economy, and encouraging quality homes and infrastructure. With this support for residents and boost to the skills available in our green economy we can all create tomorrow together."

The fund is a central pillar of the government's Levelling Up programme and will provide £2.6 billion of funding for local investment by March 2025. Allocations for different districts was determined via a formula with Folkestone & Hythe receiving £1m over the three-year period between 2022 and 2025.

Updates on the scheme will continue to be shared with the delivery of the investment plan reported on quarterly to cabinet. More details of the district's investment plan can be found in the cabinet report. 

Date published: 26 July 2022