Johnson used the example to show the scale of the government’s regional investment.
According to Channel 4's FactCheck, only £1.3 billion was new money, a fact that came from the government’s own press release. The Towns Fund is only new in the sense that it amalgamates two preexisting funds and tops them up with additional money. However, Johnson’s phrasing gives the false impression that all £3.6 billion of its funding is new.
Johnson’s claim about the Towns Fund was misleading.