Years-long efforts to revitalize Wincanton, a market town in Somerset, have been abandoned due to the financial pressures faced by the local council. The project, which began in 2020, was designed to drive more foot traffic to the town center and boost economic activity. However, in light of budget constraints, South Somerset District Council had to halt significant portions of the scheme in January 2023. Now, the remaining elements of the Wincanton regeneration plan have been entirely scrapped, though efforts to secure external funding for future initiatives are ongoing.
The original regeneration scheme for Wincanton included various elements, such as a commitment of £2m in capital funding by the district council, with the overall budget initially set at £5,673,000. However, over half of the budget was slashed in February 2022, and subsequent developments faced setbacks.
Additional funding for public realm improvements was granted in July 2022, only to be put on hold the following month. As financial pressures continued to mount, the council was forced to reevaluate its capital program, resulting in the removal of projects not fully funded by government grants or contributions from housing developers. As a consequence, the Wincanton regeneration scheme, along with other capital projects, has been abandoned.
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The decision to scrap the regeneration project was confirmed prior to a meeting of the council’s corporate and resources scrutiny committee. The council spokesperson stated that due to the financial emergency, the Wincanton regeneration project, which aimed to bring derelict town center properties back into use, could not proceed as planned. However, the council remains committed to exploring alternative avenues for supporting town regeneration through external funding opportunities.
While initiatives in other towns, such as Yeovil Refresh, and the town deals in Bridgwater and Glastonbury, will carry on into the following financial year, the Wincanton scheme will remain shelved until external grants become available. The town’s inability to secure funding from the government’s levelling up fund has further thwarted the prospects of rejuvenating the former health center on Carrington Way.
In light of borrowing costs, other capital schemes facing elimination include upgrades to Yeovil Crematorium and improvements to Bridgwater library. The full roster of capital schemes, including all remaining regeneration efforts, is set for discussion by the executive committee with the budget anticipated for approval by the full council.