A few weeks back, Torbay was recognised in tranche one of the UK’s Levelling Up Fund. This £4.8bn fund will support town centre and high street regeneration, local transport projects, as well as safeguarding and promoting culture and heritage assets.
Despite the news cycle almost continually focused on the North and those ‘red wall seats’, it is hugely welcome to see that the South West is neither being overlooked nor forgotten under this Government’s agenda to provide growth, opportunity and prosperity across all the regions of the UK.
The South West has all too often felt like the poor, left behind cousin when in comparison to other regions of the UK. With a large tourism and hospitality sector as well as a high number of second homes and retirees, we are often viewed as a more prosperous region than we are. Career opportunities are few and far between outside of peak tourism season, houses are becoming unaffordable, either to rent or to buy, and our infrastructure systems creak under increasing pressure and demand.
Changing the perspective of the South West in Whitehall and Westminster is a key priority for myself and other Devon MPs. We know that to be able to build back better and to create long term growth and opportunity in the South West, we need to change those opinions and back it up with proper substantial economic support. That’s why being ranked in tranche one for the Levelling Up Fund is so incredibly welcome. Torbay’s slice of this £4.8bn can be used to help address some of the endemic issues that have all too often been recognised but not solved.
In less than a fortnight, Torbay Authority will be submitting its proposal to the Government for how it will spend its share of the Levelling Up Fund. Accompanied by two supporting documents from Kevin Foster and myself, we are determined to see money put where it counts the most.
The first area of focus will be Brixham Harbour. This fully functioning fishing port is the lifeblood not just of Brixham but of the whole of Torbay. The ambitions of Brixham Trawler Agents offer a glimpse into the potential opportunity that rests on our shores. Expanding this harbour through offering more berths and creating a larger fish market will keep us competitive and ensure that the rich fishing history of Brixham continues for many years to come.
The second area of attention must be our high-tech industry. The photonics and quantum industry, in the wake of the Nortel closure, created several impressive and promising businesses here in South Devon. In an ever-more digitalised world, the value of this industry (currently estimated to be £15bn to the UK economy) will only increase. Creating new Hi-Tech Clusters like the EPIC centre offers us the chance not just to cultivate the industry, but to offer high paying, long term careers in the South West.
Of course, there is also the need to focus on town centre renewal and regeneration. Such developments are now long overdue, but any alterations must be accompanied by proper infrastructure development.
If successful, we will be able to create not jobs, but careers. This will offer the opportunity and quality of life that people expect in this area. South Devon, as I have often argued, is far more than just the tourism and hospitality sector. It is an area of new and emerging growth.
The Levelling Up Fund shows that we have not been forgotten. It recognises that together, old and new sectors can help to reignite the engine of growth and spur on our economic recovery.