Towns Fund

Rating: Compared to financial year 23/24-Q4, the Infrastructure Project Authority's Delivery Confidence Assessment rating at 24/25-Q4 remained at AMBER. This is primarily due to the following factors‚ Rating remains Amber with improvement in activity and spend across the programme. Analysis of data has shown some slippage and delays. In response, approval has been granted for extensions on Town Deals and Future High Street Fund (FHSF). Town Deals has been extended to March 2027. FHSF was extended to March 2025 for places with exceptional need; and a further six-month grace period for a small number of places at risk of missing the deadline. The programme team is supporting Local Authorities and acting as a critical friend through the delivery phase, in response to the reduction in Area Lead time spent on in-flight funds and the closing of the Delivery Associate Network.

Schedule: Compared to financial year 23/24-Q4, the project's end-date at 24/25-Q4 increased from 30/03/2026 to 31/03/2027. This is primarily due to the following factors‚ The October 2024 Spending Review has granted an additional year for Town Deals, taking the end of the programme to March 2027. There is no new money for the programme but the additional year allows for payments to be scheduled in 26/27. In September, ministers agreed a further extension to the FHSF, taking the programme to 31 March 2025.

Cost: Compared to financial year 23/24-Q4, the project's departmentally agreed Whole Life Cost at 24/25-Q4 (measured in £m) remained at 3106. This is primarily due to the following factors‚ The whole life cost figure relates to the costs published in the business case. This will remain unchanged for GMPP reporting, although costs may fluctuate in terms of grant repayment, overprogramming or a range of other potential issues the baseline costs will remain as are.

Source: NISTA Annual Report 2024-25 (data)

Rating: Compared to financial year 22/23-Q4, the Senior Responsible Owner's Delivery Confidence Assessment rating at 23/24-Q4 remained at Amber. This is primarily due to the following factors. As at March 24: We continue to assess the delivery confidence of the programme as amber.

Schedule: Compared to financial year 22/23-Q4, the project's end-date at 23/24-Q4 remained schedule to finish on 2026-03-30. This is primarily due to the following factors. As at March 24: The project's end-date is March 2026.

Cost: Compared to financial year 22/23-Q4, the project's departmental-agree Whole Life Cost at 23/24-Q4 increased from 3104m. to 3106m. This is primarily due to the following factors. Whole Life Costs increased from 3104m to 3106m.

Source: IPA Annual Report 2023-24 (data)