The Tunbridge Wells Manifesto:I suspect he was thinking back to his longer answer in the leadership hustings which went down reasonably well. He looked angry about the fact that people didn't realise he was actually in Kent, which does have areas of deprivation.
It's not true that the Tories took some of the money from poor areas in the North to give to poor areas in the South, but it is a better answer - and he looked offended when he said it, which worked.
Sounds like he's just remembered the bullet point, and that it went down well, so he assumes it's something worth smiling about. Probably need an advisor to give him the deprived/far away explanation one more time to see if it sinks in.
“I managed to start changing the funding formulas to make sure that areas like this are getting the funding they deserve".
He was talking about undoing Labour policy that “shoved all the funding into deprived urban areas” (the red wall that voted for them). Even if he meant that rural and coastal areas have pockets of deprivation, I don't think he meant he was moving money to Blackpool.