Millions in UK Government funding for the regeneration of Forthside and the creation of Stirling’s new film studio campus has been secured following concerns.
Councils across the country were left in limbo on Wednesday after Chancellor Rachel Reeves failed to mention the Levelling Up Fund during her Budget statement.
The scheme was started under the previous Conservative government, with £19 million pledged to Stirling in 2023.
Plans for Forthside include transforming the former Ministry of Defence site into a film studio campus, with hopes that it will attract big-budget Netflix and Amazon television shows.
A £6 million procurement contract for building refurbishment – acquired from the Levelling Up Fund – has already been approved by councillors.
Forthside is also due to get hundreds of new homes, commercial outlets, and a public square.
From the funding, a further £10 million is expected to be used for the MOD site development, and £3 million has been earmarked for connectivity and active travel links.
Forthside funding confirmed to be safe
At the last meeting of Stirling Council on October 10, Stirling SNP group leader Councillor Scott Farmer sought assurances over the funds.
On Thursday, following Chancellor Reeves’ Budget announcement, Councillor Farmer said: “Labour’s first budget has raised significant concerns over substantial financial commitments from the previous Government’s Levelling up Fund, with some £19 million committed to realising the Forthside development in Stirling.
“I asked at the last full council if I could be given categorical assurance that the Levelling Up monies were secure and this was not forthcoming to my satisfaction.
“I have been promised that high level assurance will be sought from Westminster over the funding commitment but the silence from the Chancellor in yesterday’s budget was quite frankly deafening.”
However, Stirling Council confirmed on Friday that the funding will not be lost and the project is still going ahead.
A spokesperson said: “The UK Government has confirmed in writing that our Levelling Up funding is secure.”
In response, Councillor Farmer said: “I’d be very pleased if that is the case and that appropriate senior assurances have been made.”
While many cities are still in line to receive levelling up funding, £5 million of ‘cultural’ grants for nearby Perth and Dunfermline are now “under review”.
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