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Liverpool is poised to receive a significant influx of investment following recent Budget announcements by the Chancellor of the Exchequer. These announcements include funding directed towards regeneration, housing initiatives, and an expansion of powers for the city region. Among the major highlights is a £20 million grant from the Government’s Growth Mission Fund aimed at transforming the iconic Littlewoods building into the Liverpool Creative Campus, a large-scale film and television production hub.
The proposed redevelopment will see the historic Littlewoods site converted into a 260,000-square-foot creative production campus, pending final business case approval. This project plays a crucial role in Liverpool’s strategy to expand its creative industries, particularly in film and television, while attracting further employment opportunities and economic investment. Additional funding related to education and the ScreenWorks program connected to the campus will be provided separately, complementing the core redevelopment budget.
Beyond this cultural project, the Budget also allocates substantial funds to address homelessness and support affordable housing. A nationwide fund of £432 million aims to strengthen efforts to combat homelessness as part of the Prime Minister’s ‘All In’ strategy, enabling Liverpool City Council to focus on early intervention and preventative measures rather than crisis response. The city seeks to make homelessness rare and short-lived by coordinating closely with housing providers, charities, and health services, and this allocated funding will sustain these approaches through to 2029. Furthermore, an additional £1 billion has been designated for social and affordable housing nationally, pushing the Government’s ten-year investment program past £40 billion. This will support Liverpool’s ongoing partnerships with housing providers like Torus and Onward.
The Budget also introduces new financial mechanisms to empower local leadership in regeneration efforts. Starting in 2028, a £1.5 billion borrowing facility will enable mayors to invest more flexibly in projects related to housing, high streets, and transport infrastructure. Councils may also benefit from preferential government financing options for social housing borrowing, fostering greater investment in this area. Additional measures include £285 million focused on promoting sustainable growth and £150 million to enhance capability within local and combined authorities. The Government has outlined plans to advance fiscal devolution, giving regions like Liverpool increased control over revenues and business rate retention, which will help tailor investment decisions more closely to local needs. These proposals still require parliamentary approval before implementation.
Cllr Ruth Bennett, Deputy Leader and Cabinet Member for Finance, Resources and Transformation, welcomed the Budget as a positive step for Liverpool’s future. She highlighted the significance of the investment in the Littlewoods building, stating, “It is one of Liverpool’s great landmarks and its redevelopment presents an enormous opportunity to build on our success as one of the UK’s leading locations for film and television.” Bennett also expressed support for the boosted funding addressing homelessness and affordable housing, recognizing these as critical challenges for urban areas. She additionally praised the measures aimed at fiscal devolution and borrowing powers for mayors, emphasizing readiness to collaborate with Mayor Steve Rotheram to maximize benefits across all communities within the city region. Bennett concluded by noting that Liverpool will carefully review the details and work closely with government and regional partners to ensure the city gains the fullest advantage from the announced funding and powers
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