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Belfast City Council has taken its case for a new Belfast Place-Based Growth Fund to Westminster.
A cross-party delegation says the fund could unlock stalled development, support housing and infrastructure projects, attract private investment and strengthen Belfast’s role as Northern Ireland’s main economic driver.
The council wants targeted investment comparable with support available to other UK cities.
Belfast delegation takes investment case to Westminster
Belfast City Council has taken its case for major new investment directly to Westminster.
Lord Mayor of Belfast, Councillor Róis-Máire Donnelly, led a cross-party delegation on Tuesday, 8 September.
The delegation called for support for a new Belfast Place-Based Growth Fund ahead of the Chancellor’s Budget Statement on 26 November.
Belfast City Council Chief Executive John Walsh also took part.
All four Belfast MPs contributed to the visit:
- Gavin Robinson
- John Finucane
- Claire Hanna
- Paul Maskey
The council says the proposed fund could help tackle long-standing barriers to development across Belfast.
It believes targeted investment could unlock land, support regeneration and attract further private-sector funding.
What would the Belfast Place-Based Growth Fund support?
The proposed Belfast Place-Based Growth Fund would focus on projects designed to accelerate growth across the city.
Priority areas include:
- housing-led regeneration
- mixed-use development
- strategic infrastructure
- redevelopment of underused land
- innovation projects
- major regeneration schemes
- attracting private investment
- increasing city centre living
The council says these projects could create the conditions for sustained and inclusive economic growth.
It also argues that Belfast’s growth would benefit the wider Northern Ireland economy.
Belfast Growth Fund: Key Facts
- Belfast City Council is seeking a new Place-Based Growth Fund.
- The proposal has cross-party political support.
- Housing, regeneration and infrastructure are key priorities.
- The council wants to unlock underused development land.
- The fund would build on Belfast Region City Deal investment.
Growth fund would build on Belfast Region City Deal
The council says the fund would build on investment already being delivered through the Belfast Region City Deal.
The City Deal is supporting major projects across a number of priority sectors.
These include:
- FinTech
- life and health sciences
- advanced manufacturing
- creative industries
The Belfast Region City Deal represents more than £850 million of planned investment.
Belfast City Council says the programme could support up to 20,000 jobs during its delivery period.
[Insert Link: Belfast Region City Deal]
The council believes an additional place-based growth fund would help maximise the value of those existing investments.
It says further support could also help address infrastructure and development constraints elsewhere across the city.
Lord Mayor says Belfast has major potential to unlock
Councillor Donnelly said Belfast continued to face significant infrastructure and regeneration challenges.
She said:
“Belfast has so much potential to unlock, but we continue to experience substantial infrastructure and regeneration deficits.”
She added that historic under-investment had contributed to delays in bringing development projects forward.
Other barriers include difficulties assembling land, infrastructure constraints and development viability gaps.
Councillor Donnelly said these issues were limiting Belfast’s ability to compete internationally and drive wider regional growth.
She also highlighted Belfast’s growing strengths in innovation and skills.
She said:
“Our city has such a compelling investment proposition, just look at our talent, our strengths that we’re boosting through the Belfast Region City Deal in areas like FinTech and life and health sciences, advanced manufacturing and the creative industries, and our plans for housing-led and mixed-use regeneration, including increasing city centre living.”
Councillor Donnelly added:
“Investing in Belfast through a transformative Belfast Place-Based Growth Fund makes sound business sense – we’re uniquely positioned and ready to deliver.”
“Investing in Belfast through a transformative Belfast Place-Based Growth Fund makes sound business sense – we’re uniquely positioned and ready to deliver.”Councillor Róis-Máire Donnelly, Lord Mayor of Belfast
Council seeking investment comparable with other UK cities
Belfast City Council says it wants targeted investment comparable with funding available in other UK cities.
The proposal has the support of all political parties on the council.
The council argues that Belfast needs additional investment to fulfil its role as Northern Ireland’s main economic driver.
It also says the city can make a stronger contribution to UK economic growth if infrastructure and regeneration barriers are addressed.
Fund informed by Belfast regeneration priorities
The proposed fund has been developed following engagement with a range of stakeholders.
It has also been informed by findings from the Belfast City Centre Regeneration and Investment Strategy Stocktake.
The strategy focuses on improving Belfast city centre and encouraging more development and investment.
The fund also aligns with priorities in the Belfast Agenda.
The Belfast Agenda is the city’s community plan.
It includes priorities around:
- housing
- infrastructure
- city centre living
- regeneration
- investment
- inclusive economic growth
Increasing city centre living remains a key priority
One of the council’s main ambitions is to increase the number of people living in Belfast city centre.
Housing-led and mixed-use development form an important part of that strategy.
The council believes more city centre housing could support local businesses, improve activity outside normal working hours and help regenerate underused sites.
However, it says development viability and infrastructure issues continue to hold projects back.
The proposed Belfast Place-Based Growth Fund is intended to help tackle some of those barriers.
Why the Belfast Place-Based Growth Fund matters
Belfast remains Northern Ireland’s largest urban economy.
The council believes that unlocking development in the city would have benefits beyond Belfast itself.
Potential benefits include:
- new housing
- new employment opportunities
- improved infrastructure
- increased private investment
- redevelopment of vacant or underused land
- stronger innovation sectors
- increased economic activity across Northern Ireland
The council is therefore presenting the proposed fund as both a Belfast investment and a wider Northern Ireland growth measure.
What happens next?
Attention will now turn to the UK Government’s response.
The Chancellor is due to deliver the Budget Statement on 26 November.
Belfast City Council will be hoping that its case for additional place-based investment is reflected in future government funding decisions.
If secured, the fund could provide public investment needed to unlock stalled development and support major regeneration projects.
Northern Ireland Online will continue to report on major investment, regeneration and development proposals affecting Belfast.
What do you think?
Do you think Belfast needs greater UK Government investment to unlock housing, infrastructure and regeneration projects?
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