Traders 'in limbo' over £11m regeneration funding

Traders in the heart of Gloucester have said delays to the funding of a major regeneration scheme has left them "in limbo".

The Greyfriars Quarter project was awarded £11m of Levelling Up funding by the former Conservative government last year, but is now under threat as Labour is yet to confirm whether it will honour the promise.

Those working in Eastgate Market - which is part of the planned regeneration - say the uncertainty has left “everyone’s feeling low", with one explaining: "We need the money, Gloucester needs a market".

The Ministry of Housing, Communities and Local Government would not comment on the status of the funding.

The BBC understands a decision on the future of the money will be published after the budget on 30 October.

Leader of Gloucester City Council, Jeremy Hilton, said he will be “disappointed” and “angry” if the funding is pulled.

“A promise broken is a promise broken, even if it’s been made by the former government,” he added.

Billed as creating an area for “café culture” in Gloucester, the Greyfriars Quarter scheme includes moving Eastgate Market further into Eastgate Shopping centre to increase footfall.

The money was also set to create a food hall, community centre, park, apartments and business units, along with preserving the remains of the Greyfriars monastery.

Business owners in the market said investment is desperately needed.

Steph Turley runs Pershore Seafoods fishmongers and said profits are down 60% since she and her partner took over the business seven years ago.

“All that will happen [if the funding is cancelled] is more and more traders will go, they will leave because they’re not making enough money,” she added.

“As it stands at the moment, I’d be better off stacking shelves in Tesco and earning a wage, but this is my business and my passion.”

Mary Sweet Escott runs Mary Fashions and said it is “very depressing” in the market at the moment.

“Everyone’s feeling low, and we don’t know what’s going on,” she added.

“I have one good day, then I might have three bad days. I’m not even taking minimum wage.

“You’re just waiting to see what’s happening all the time, we need the money, Gloucester needs a market, it’s a market city.”

Mr Hilton said the city council will look for other sources of money if the government cancels the funding.

A spokesperson for the Ministry of Housing, Communities and Local Government, told the Local Democracy Reporting Service last week that there was uncertainty about the funding.

“The honest answer is we just don’t know at the minute,” he said.

"Pretty much all of our funding streams are under review as part of the wider spending review."

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