The Chancellor has committed up to £20 million to restore a Victorian pier recently damaged by fire.
The announcement came as Rachel Reeves visited Southport ahead of the Labour Party conference, which is taking place 18 miles away in ACC Liverpool.
Officials expect work on the town’s Grade II-listed pier to commence early next year, with a projected reopening within three years.
The pier has been closed since a fire broke out at the end of August, affecting an area around 20 metres by five metres on and below the structure.
The blaze was thought to have been caused by an electrical fault, according to the Merseyside Fire and Rescue Service.
“Southport Pier is a beloved landmark,” Ms Reeves said. “A national treasure that has been allowed to fall into disrepair, no longer.
“I’m proud that through our Plan for Change, families across Merseyside should be able to enjoy this wonderful attraction again.”
Southport’s pleasure pier dates to 1859-60, according to Historic England, with extensions throughout the 19th century.
It has previously suffered major fire damage, with its pier head and pavilion destroyed in 1933.
“Southport Pier holds a special place in the hearts of people across the Liverpool City region and beyond,” Labour mayor of the Liverpool City Region Steve Rotheram said.
“Generations of families have walked along it, shared ice creams on it, and made memories that last a lifetime.
“Its closure has been felt deeply by the whole community, which is why today’s announcement will mean so much to local people.”
Mr Rotheram thanked the Government “for listening and committing the funding needed to restore this much-loved landmark to its former glory”.
He said the move would help protect jobs and attract tourists to the seaside town.
“Working with Sefton Council, we’ll make sure the pier once again stands proud as both a symbol of our heritage and a driver of future prosperity in our growing £6.25 billion visitor economy,” the mayor added.
The Labour Party conference begins this weekend and will continue until Wednesday.
Prime Minister Sir Keir Starmer is already in the Merseyside region, where he described the event as a “really big opportunity to make our case to the country, make it absolutely clear that patriotic national renewal is the way forward, not the toxic divide and decline that we get with Reform”.
