There are question marks on whether the promise of £20 million in Levelling Up Funding awarded to Ryde last year will go ahead.
The Government investment of £2m per year over ten years was announced in October 2023, and intended to improve local infrastructure and community spaces in the town.
Plans on pause
The funds are managed by the Ryde Town Board, which has been planning various projects to benefit the area.
However, the Board have been informed that three year plans by Town Boards across the country have been paused, without a future date for submission.
“Government had to be mindful of the public purse”
A member of the Ryde Town Board told OnTheWight,
“They finished their short reply with the comment that Government had to be mindful of the public purse and set budgets accordingly.”
Awaiting clarity in the Autumn Budget
The next update is expected after the Autumn Budget is announced on 30th October.
Residents and local stakeholders are eagerly awaiting this announcement, as it will determine the next steps in Ryde’s journey towards improvement.
Influence on decision-making
OnTheWight has approached Isle of Wight West Labour MP, Richard Quigley (as it is his Party in power), to find out what influence he may be able to have on the decision-making.
We’ll update once we hear back.
