Soaring inflation and increases in construction costs are leading Teignbridge Council to ask the Government for more flexibility in dealing with its major regeneration scheme for Newton Abbot.

Already £9.2 million has been pledged by the Government as part of the Future High Street Fund to rejuvenate the town centre and bring in more customers.

Teignbridge Council is also now considering a planning application for a new four screen cinema in the Market Square area, which would replace the current smaller one in the Alexandra building.

Teignbridge Council Leader, Cllr Alan Connett (Liberal Democrats) said: ‘The cost of living crisis is affecting everyone, residents and organisations, including councils.

‘Soaring inflation and especially construction costs, means we may need to look again at how the Future High Street project can be delivered.

‘The Liberal Democrats have put in a motion for the next council meeting on 26 July which, if backed by councillors, will mean we talk with the Government about how the council can respond more flexibly to local needs and minimise exposure to potentially rising construction costs.

‘As part of that, the council could review proposals for the existing Market Hall in order to improve the market offer and draw in new traders and more customers and consider afresh options for the Alexandra Cinema/theatre building.’

Teignbridge Council is strongly committed to Newton Abbot as a market town, and several years ago invested in acquiring the Market Walk shopping centre from an investment fund before investing in a refurbishment.

With more than 800 years heritage as a market town, Newton Abbot is seen as a core ingredient in supporting not only the economy of the immediate area, but also the wider district, said Cllr Connett.

‘What we want is a strong day-time economy that works in tandem with a strong evening economy, blending the market, retail, arts and cultural experiences for residents and visitors.’

He added: ‘I hope the motion will be supported by all councillors and while there is no doubt uncertainty within Government while the race is on for a new Prime Minister, I hope we can engage positively and constructively to achieve an even better outcome locally.’

The next Teignbridge Council meeting is on Tuesday, July 26.

The motion put forward by Liberal Democrat councillors could be debated at the council meeting if enough councillors agree, or referred to a committee for further consideration.