£5m cash injection for major improvement plans will see Rugby town centre revamped and security stepped up

“With appropriate investment in the physical environment, in town centre businesses and in infrastructure, together with our partners we will make our town a more pleasant and a safer place to be, with more reasons to visit”
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A £5million cash injection will help major improvement plans for Rugby town centre.

Funds will be used to revamp the town, increase CCTV coverage and support businesses.

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Plans also include a voluntary and community sector-led wellbeing hub, and a public sector service hub.

A view looking towards Rugby town centre.A view looking towards Rugby town centre.
A view looking towards Rugby town centre.

Cllr Seb Lowe, Leader of Rugby Borough Council, said: “This £5 million is a clear statement of support for our town centre.“With appropriate investment in the physical environment, in town centre businesses and in infrastructure, together with our partners we will make our town a more pleasant and a safer place to be, with more reasons to visit."

The borough council also wants to progress sustainability-focussed projects that support climate change commitments.Rugby Borough Council will work with developers and investors to explore under-used assets to see if they could be put to better use and where appropriate consider the use of its compulsory purchase order powers to progress regeneration that benefits the town.The measures support objectives in the borough council’s Town Centre Regeneration Strategy which saw extensive consultation in 2021 and 2022 and was adopted in December.Cllr Lowe added: “These measures move us a step forward in delivering the regeneration strategy that we adopted last year.”The £5m investment will be allocated from the interim retained business rates by the council over the next two years that were previously anticipated to be transferred to the government. The majority of business rates are already transferred to the government annually.The move has been made possible following the government’s announcement that business rates will continue to be allocated using the current formula until 2025/26, at which point a reduction in business rates retained by the council is anticipated.The town centre funding boost is part of Rugby Borough Council’s 2023/24 General Fund budget, which is subject to approval by councillors at Rugby Borough Council’s budget setting meeting next week (February 22).Other proposals include adjustments to various budgets to take account of historic spending or the end of grant funding, temporary and permanent savings totalling £4.25 million, along with an under-inflation increase of the borough council’s share of the council tax of 2.99 per cent or £6.12 per year for an average Band D property.It will bring the total amount of Rugby Borough Council’s share of the council tax to £162.82 per year for an average Band D property, plus the town area or parish council amount.Rugby Borough Council receives 8p in every pound of council tax, with 76p going to the county council and 13p going to Warwickshire Police. The rest goes to parish councils or the Rugby town area expense.Cllr Carolyn Robbins, Rugby Borough Council portfolio holder for finance, performance, legal and governance, said: “The cost of living has impacted the borough council’s budgets by £2.7 million, so it is testament to our continuing financial prudence that we have been able to make savings of £4.2 million and balance our budget with an increase in our council tax of just 12 pence per week for an average Band D property.”

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