Less than £1m of remaining Ipswich Towns Deal spent

Ipswich was awarded £25m of funding by the Department of Levelling Up in 2021 to give an economic boost to the town. 

10 projects were announced by Ipswich Borough Council, of which three have been completed - costing £5m in total.

However, out of the remaining £20m only £768,806 have been spent and two projects have also been cancelled. 

Last Tuesday, the borough council announced £3.75m plans to regenerate the former Pauls Silo and the creation of a Yacht Academy were scrapped.

Council leader Cllr Neil MacDonald said that there is no longer enough interest in the plans and that it would be better if the money was allocated elsewhere.

Following the announcement, Ipswich Vision Board chair David Ralph said discussions were already taking place on how to reallocate the unused money.

"We are currently looking for a £1m plan to revamp the Silo's car park," he added. 

"We can't do the building anymore, as it might have been viable two years ago, but is not viable for us to do anymore. But we still want to see funding in the area.

He added; "We are on track to make our deadline, and should have the remaining projects completed in the next 18 months to two years."

The plans to cancel the Pauls Silo project were first made in a board meeting on July 12. (Image: Neil MacDonald)

Mr Ralph said that plans to cancel the £1.12m Yacht Academy project had been recommended in March, and most of the money has been reallocated to the regeneration project. 

Prior to the cancellations, nearly a quarter of a million on these two plans already - with £228,061 being spent on Pauls Silo and £37,371 being spent on Yacht Academy. 

During the meeting, Cllr MacDonald said council officers and experts had worked tirelessly to find a solution.

He added: “It’s very disappointing that a viable solution which meets the agreed objectives and outcomes of the Towns Deal fund can’t be found.

“The intention will absolutely be for it not to become a millstone around the council’s neck.”

Toby Warren of the Chamber of Commerce said they were disappointed that Paul Silo's plans were cancelled. (Image: Nicky West Photography)

Plans will be made to reinvest the money into the Pauls Silo car park. (Image: Jason Noble/LDRS)

Following the announcement, Suffolk Chamber’s head of policy Toby Warren said: “It is certainly disappointing that the Paul Silo project will not be proceeding.

"However, the project was conceived several years ago and Suffolk Chamber recognises that since then, costs have soared and there have been changes in market interest."

Yacht Academy's budget will be reinvested in the regeneration project. (Image: Shikhar Talwar)

Mr Ralph also addressed the work following a "damning" report by the National Audit Office (NAO) that said the council was slow going through the town deal projects. 

Mr Ralph said: "We have had to carry out consultation periods for every project, which is why they look to have been taking so long, and why we have invested so much in them.

"However, now we feel like we are catching up to where we should be."

The deadline set by the Department of Housing, Communities and Local Government to use the budget is March 2026 - after which Mr Ralph hopes to ask for further funding to support Ipswich.

What other projects are being funded by the town fund?

Half a million pounds has been spent on five other projects in Ipswich, with a majority surrounding improvements in local shopping parades.  

28 shopping parades have been selected to benefit from a share of £2.8m businesses and altogether the money improving these should benefit 442 businesses in Ipswich.  

This ranges from funds to improve shop fronts, add CCTV or new bins. 

28 shopping parades will benefit from the town deal. (Image: Ipswich Borough Council)

Another £149,036 has been spent on the public realm and greening project.

Further funding will be allocated to the recently approved plans to pedestrianise Lloyds Avenue and paths being made connecting Cornhill to the waterfront. 

The council has spent over £100,000 on their Digital Ipswich project - which will include Tedx, and digital billboards to help understand people's movement in town. 

This project is also developing 10 AR trails which are set to be in use from the next summer holidays. 

The fund will affect various parts of Ipswich town centre. (Image: Newsquest)

£7,850 has also been spent on the regeneration fund, which will also get an increased budget from the now cancelled Yacht Academy. 

This fund will calculate the number of active properties in the town centre and how to best use the town centre. 

The creation of pedestrian bridges is the last project, however, no money has been spent yet as the council needs more information from Suffolk County Council and ABP on this.