A new fund should be created to provide £4 million towards helping save high streets in Cornwall.

That is just one of the recommendations which have been made in a report following a major inquiry by Cornwall Council into high street vitality.

Councillors who carried out the inquiry have suggested that a Cornwall High Streets Fund of up to £4m should be created.

This would be used to provide grants of up to £250,000 to towns which could then use it to match other funds to launch initiatives to help boost their high streets.

The report suggests the funding would be for towns with “significant high streets” and that they would have to make a case for getting the support.

It adds: “Towns could be encouraged to form cross-sector ‘town teams’ to develop coherent plans for their high streets which can then be assessed by Cornwall Council for their value and deliverability.”

The report states: “The panel suggests that this funding should provide ‘kick start’ resources to make project delivery possible. It should only be made available to towns that demonstrate they have a clear plan and a proven ability to work together. The panel was of the opinion that this ‘seed corn funding’ should be used by towns to bring in additional match funding from BIDs (business improvement districts), chambers, town councils, trusts, businesses and community crowdfunding and external sources such as Coastal Communities, Lottery or Heritage/Culture funds as well as private investment.”

It also recommends that Cornwall Council and Cornwall and Isles of Scilly Local Enterprise Partnership (LEP) should develop and provide training and skills programmes which can help people working in high streets to adapt, with a focus on digital skills training.

The panel has also recommended the creation of a £1m evergreen loan fund which could provide interest-free loans to businesses which take on empty shops in high streets.

In the report it states: “The panel felt that a high street vitality loans fund would enable the creation of businesses and jobs that would generate a tax return. The fund could be constructed so that it is paid back in tandem with the growth of the business.”

The idea was drawn up after hearing from other authorities which have set up similar schemes to hep revitalise their town centres.

Members of the inquiry panel are set to approve the final report when they meet on Monday (July 29).