Lowestoft misses out on slice of £675m high street fund
PUBLISHED: 14:50 05 July 2019 | UPDATED: 14:51 05 July 2019
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Lowestoft has been unsuccessful in its bid to receive part of a government fund designed to revitalise the country's declining high streets.
The town has missed out on a share of the Future High Streets Fund, launched to try and relieve the high street woes of councils across the nation.
Following a decision-making process over the past few months, 50 places across the UK have been assigned an initial sum of up to £150,000 each.
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Successful applicants - including Great Yarmouth - will now go through to the second phase of the process, which will eventually see some locations receive several millions.
Despite the apparent setback, East Suffolk Council says its outlook for the future of Lowestoft remains optimistic.
A spokesman for the council said: "While it is disappointing to have missed out on this particular pot of government funding, our plans to regenerate and reinvigorate Lowestoft remain entirely on course.
"Lowestoft has an incredibly bright future with major infrastructure projects such as the third crossing, flood defence scheme and superfast broadband - and the recent First Light Festival did an incredible job of showcasing the town to a national audience.
"We are moving in the right direction and we are confident that this decision will be nothing more than a very small bump in the road."