Three North East high streets are set for a £6m boost in a bid to weather the “perfect storm” of the cost of living crisis and the pandemic.
It is hoped that a new funding package signed off by the North of Tyne Combined Authority (NTCA) this week will create more than 200 jobs, with one area in each of Newcastle, North Tyneside, and Northumberland to benefit from the investment. Bosses say the cash will be used to help local traders, bring empty buildings back into use, and to develop long-term plans to boost footfall and turn around the fortunes of struggling areas.
North of Tyne mayor Jamie Driscoll said: “The cost of living crisis will have potentially devastating consequences for our high streets, already reeling from the pandemic. Families are spending over a thousand pounds a year more to buy the same food and energy. That means millions less spent in our shops, pubs, theatres, and restaurants.
