Latest Rail News

10.10.14

DfT launches £30m HS2 business support funds

Transport minister Robert Goodwill has stated that communities and businesses near the new HS2 high speed railway will benefit from funds worth approximately £30m. 

The Community and Environment Fund (CEF) and the Business and Local Economy Fund (BLEF) will make up to £30m available for residents and local communities between London and Birmingham to invest in public projects, such as the refurbishment of local community centres, nature conservation and measures to support local economies and employment. 

Goodwill said: “It’s only right we do all we can to help those living and working close to this vital railway. These new funds, totalling £30m, are in addition to the comprehensive package of support we have already announced and will further help communities and businesses make the most of this once in a generation scheme and crucial part of the government’s long-term economic plan.

“The two funds are in addition to the extensive plans already in place to minimise the impacts of HS2’s construction and operation.” 

CEF will support local projects that bring community and environmental benefits to areas affected by HS2, according to the Department. Part of the pot will fund small scale community projects, the remainder will fund larger schemes that have third party or match funding. 

The BLEF will invite business groups to bring forward projects that will maintain business activity and employment in local communities, which may be impacted by HS2 construction. 

It was stated that the not-for-profit charity New Philanthropy Capital (NPC), which has extensive experience of similar grant schemes, will be working with HS2 Ltd to ensure the funds are delivered in the most effective way possible.

This will include engagement with local authorities and local enterprise partnerships along the route to get their feedback on the proposals for the detailed eligibility and application criteria for the fund. These are expected to be published in 2015, enabling local communities to plan ahead. 

Goodwill added that community groups, charities, non-governmental organisations and business support organisations will be able to bid for grants from the new funds, which are expected to be rolled out when construction starts in 2017, following Royal Assent of the High Speed Rail (London to West Midlands) Bill. Grants will be awarded until the end of HS2’s first year of operation in 2026. 

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