The Isle of Wight will receive an additional £3million in central Government funding – on top of the £1million uplift already announced – in recognition of the Island’s unique circumstances, Island Echo can exclusively reveal. It seems that the much-talked-about ‘Island Deal’ has really come to fruition with confirmation from the Government that the Isle of Wight will now receive £4million a year above and beyond what it already gets – hopefully annually. Michael Gove MP, Secretary of State for Levelling Up, Housing and Communities, confirmed in a statement earlier today that the Isle of Wight will be provided with additional funding due to our physical separation from the mainland. It’s understood the additional funding has been earmarked to be spent on regeneration efforts to provide a stimulus to the Island economy by contributing funding for regeneration schemes, helping working people. The money will also be used to support social care and establish care accommodation to support the residential care market, thus helping the Island’s vulnerable older residents. Many will recognise this £4million of additional funding as the ‘Island Deal’, but Bob Seely MP has said the Deal is very much about getting a better deal for the Island all the time, not just extra Council funding. Since 2019 a total of £175million of extra investment has been secured for the Island. However, Mr Seely has warned that if Labour were to win the General Election he believes the extra money would soon be taken away… Bob Seely has told Island Echo:
“When I became MP I pledged to get a better funding settlement. That’s what I, working with others, have delivered. I am glad that we’ve been able to secure additional funds. “Ministers have told me that we now have an additional £3 million, for a total top-up of £4 million. This followed my lobbying the Prime Minister and other senior ministers in the past week. I have no doubt that any future Labour Government – should they win – would take this money away from the Island. “The £4 million per year should now be viewed as the new benchmark. The £4 million a year equates to £16 million over a Council term. “Clearly, I will try to add to that figure in future settlements. I am always going to be campaigning for a better deal for the Island. “Thank you to Council officers who helped making our case, and also the previous leader of the Council, Lora Peacey-Wilcox, who worked with me during last summer on this.
Full details on the funding will be revealed at the final Settlement, which is expected early in February. The Isles of Scilly will also receive additional funding in recognition of their unique circumstances.
