Levelling up schemes frozen amid cost hikes

Councils have frozen levelling up projects despite winning funds, after cost hikes rendered schemes unviable. Dozens are being forced to halt the projects or find millions from their own squeezed budgets to complete works, because of soaring costs which have exceeded government grants. At least £500m has been lost from projects funded by different government levelling up schemes due to inflation and rising costs. But the true losses will be even higher as the bulk of the £3.8bn funds allocated so far have not been paid out. The levelling up secretary, Michael Gove, will address the Convention for the North later today, amid criticism that the government’s flagship regeneration policy is offering too little and in the wrong places. The Guardian