Regeneration is often a story of contrasts; varying local decisions, national policies with unintended consequences, community action, and sometimes, simply being in the right place at the right time. Some councils make better choices than others; some communities come together to drive positive change, while others face entrenched challenges.
Recently, Wayne was invited to speak on BBC Radio 4’s Rethink programme (in association with the Open University), discussing housing regeneration, with reference to The Staiths in Gateshead, and the debate around “gentrification” in Margate. Beyond Wayne’s contribution, we urge you to listen to Dr Eilis Lawlor, Director of the Research Institute Just Economics, whose analysis presents a sobering truth: some places in the UK are almost impossible to turn around without significant, sustained investment.
This reality is reflected in recent research from Southampton University and YouGov, which found that communities rank the decline of their high streets as a top local concern, third only to healthcare and crime. The Guardian highlighted this in relation to Labour’s chances of securing a second term, illustrating how regeneration is deeply intertwined with political and social wellbeing.
Adding to this, the Independent Commission for Neighbourhoods recently reported that the 613 most deprived neighbourhoods in England are projected to experience rising crime and unemployment by the end of this parliament. While initiatives such as Labour’s Pride in Place scheme, with £20 million over ten years, are welcome, this level of funding is nowhere near sufficient to reverse decades of underinvestment and decline.
Through our visioning, strategy, and placemaking work in areas facing high-levels of deprivation, we know that community action, co-design, and culture-led placemaking can make a significant positive difference. However, none of this would be possible without substantial, long-term funding from Arts Council England and councils willing to prioritise culture-led regeneration. Sadly, this support reaches only a small fraction of the most deprived neighbourhoods.
As Dr Lawlor asks on the Rethink programme, where will the scale of investment needed come from? Public appetite for higher taxation is limited, especially in a society where a significant portion of the electorate is sceptical of tax increases. Economic forecasts suggest limited growth, restricting government spending capacity.
Yet the wealth to make a difference exists within the UK’s private sector and households. In 2023, financial corporations’ net worth reached £326.4 billion. By 2025, the UK had 156 billionaires holding £312 billion, while the 50 richest families control over £772.8 billion. Total household wealth is estimated at £13.6 trillion, with the top 10% owning 41% and the top 1% holding 10%.
Releasing even a fraction of this concentrated wealth for regeneration could transform those 613 deprived neighbourhoods, revitalise underperforming town centres, and seaside towns long neglected, some for nearly half a century.
The question remains: are we, as a society, capable of moving beyond entrenched individualism to embrace a cohesive vision that values collective wellbeing and long-term sustainability?