THE Isle of Wight could lose more than £500,000 in government funding — despite a pledge by Prime Minister Boris Johnson the Island would receive extra help.

Analysis commissioned by the Local Government Association into the impact of the Conservative government's fair funding review has revealed the Isle of Wight could see £552,855 cut from its budget.

Nationally, £320 million a year could be cut from councils in England’s most deprived areas, while Tory-controlled shire councils could gain £300m.

Hampshire could see a 14 per cent increase in its budget, equating to more than £35 million — the biggest increase in the country.

A consultation on the new formula, which has been developed over the past 12 months, is due to be launched in the spring.

Isle of Wight Labour Party chair Julian Critchley said: "This reflects the low priority the Tories give to the Isle of Wight.

"Despite all Bob Seely's promises about his Island Plan, the government continues to cut funding for the Island, even as it lavishes extra money on favoured authorities just over the water.

"The Island desperately needs more money. Our existing services are crumbling, with recent cuts to waste disposal, adult social care and mental health services. We can see the impact of the council's cuts simply by walking down any of our high streets.

"The simple fact is that the government sees the Island as a 'safe' Tory seat. Its Tory MP and its Tory council can be relied upon not to make a fuss as the funding is cut again and again. If Islanders want to end this neglect, it's vital they vote to remove the Tory council next year.

"We need a Labour council which will actually stand up and fight for this Island, instead of a Tory council which simply passes along the cuts from its masters in Westminster."

Mr Johnson has previously assured MP Bob Seely the Isle of Wight would receive extra funding through an Island Deal.

Read more: Prime Minister Boris Johnson says Isle of Wight will get Island Deal — during Brexit debate

Mr Seely said the Prime Minister had publicly indicated his support for an Island Deal in June last year, during a visit to the Island, and reaffirmed that commitment in the House of Commons.

Read more: Isle of Wight MP Bob Seely asks Boris Johnson to deliver Island Deal — £17 million for services, £5 cap on patient travel and help tackling ferry companies

UPDATE 4.49pm: Mr Seely said the projections were inaccurate because they were based on a funding formula for adult social care, which was only one element of the fair funding review — something the Local Government Association had acknowledged.

He said: "Consequently, the claims made by Island Labour are scaremongering in the extreme. Rather than seeking a headline based on some half-cut figures, I am working with the Isle of Wight Council to set out — to the government — an evidence-based case for additional funding.

"We mustn’t forget the last Labour government took millions of pounds of funding away from local authorities such as the Isle of Wight to redistribute to metropolitan boroughs elsewhere. We are still living with the consequences of this."

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