Posted 3/3/2024, 2:02:00 PM
Towns Fund projects facing delays as high costs and inflation slow progress
- Fewer than 20% of the projects approved under the £3.6 billion towns fund have been completed so far
- Fewer than half of the projects will be finished by the next election, even if held in November
- High inflation has eaten into the budgets and made projects more difficult to complete
- Many councils have had to stall or reduce plans due to higher costs
- The government maintains all money will be spent by the 2026 deadline, but over 170 projects are not due to finish until March 2026