Government launches new coastal regeneration fund

The Government has launched a multi-million pound fund intended to boost the regeneration of coastal communities.

The fund is intended to boost economic growth in coastal communities. UNP picture
The fund is intended to boost economic growth in coastal communities. UNP picture

Under the scheme, half of the annual revenue from the Crown Estate’s marine activities will be put into a new Coastal Communities Fund.

For example, in April 2012, there will be £23.7 million available through the fund, representing a 50 per cent share of the total £47.4 million revenue raised by the Crown Estate’s marine activities in 2010/11.

For each administration in the UK, the funds available will be directly linked to the Crown Estate’s marine activities from that particular area.

From April 2012, coastal communities will be able to bid for cash from the fund.

It is intended to support regeneration and economic development of coastal communities by funding projects including those run by local environmental, education and health charities; renewable energy schemes and conservation initiatives.

The fund will be administered by good causes distributor the Big Lottery Fund (BIG).  

Chancellor George Osborne said: "The Government is committed to supporting coastal communities and ensuring that they benefit from the revenue that our coasts and the Crown Estate produces."

But Scottish finance secretary John Swinney said: "We welcome the fact that Scotland's coastal communities will now benefit from their own resources, but it is only because of pressure from the Scottish Government that Westminster is taking any action on this issue, and this paltry announcement does not go nearly far enough.

"Devolving full responsibility for the Crown Estate and its revenues to the Scottish Parliament is vital if Scotland is to make the most of our vast offshore renewable energy potential. "

Further details on how to apply to the fund will be published shortly, the Treasury said.

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