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- The UK Government has approved local spending schemes for the UK Shared Prosperity Fund (UKSPF).
- UKSPF matches and succeeds EU funding in England, Wales, Scotland and Northern Ireland and gives local leaders more say in how the money is spent.
- The funding will turbo-charge Levelling: supporting local businesses, boosting skills, reviving high streets and improving local pride.
People across the country will benefit from a £2.6 billion investment in skills, improved high streets, support for local businesses and more green space as the UK takes back control and approves spending plans for funding previously run by the European Union.
The UK Shared Prosperity Fund succeeds EU structural funding but Brussels decides how and where the money is spent, with the UK Government working closely with local leaders in every corner of the UK to direct funding to where it is most needed.
Under the spending plans approved today, England, Scotland, Wales and Northern Ireland are all receiving at least as much as they did before, while bureaucracy is freed from EU processes and has more say over how the money is used.
Councils in England, Scotland and Wales have developed schemes with a wide range of local partners that deliver to people in their areas. They have chosen to spend money on various initiatives such as supporting people into decent jobs, helping local businesses to grow and combating anti-social behaviour, and can now start delivering this. In Northern Ireland, DLUHC administers the fund and has developed a plan in close collaboration with councils, businesses and the community and voluntary sector.
Leveling Up Minister Dehenna Davison said:
“We are taking full advantage of being outside the European Union and unlocking billions of pounds of investment to help level up communities and spread opportunities across the UK.
“The UK Shared Prosperity Fund will have tangible benefits for people up and down the country, from young entrepreneurs who need help or those looking to gain the skills they need to get a decent, well-paid job.
“The UK Government has worked closely with local leaders across England, Wales, Scotland and Northern Ireland, ensuring they know how this money is spent and that the funds are directed to where they are most needed.”
Across the UK, the money will be spent strategizing across three main areas:
- Communities and place: Projects include access to parks and green spaces, sports facilities and arts and culture to promote a greater sense of pride in place.
- Supporting local business: This includes support for entrepreneurs as well as research and development grants for local businesses to help develop innovative products and services.
- People and skills: Projects may include specialist support for people with health conditions who face additional barriers to suitable jobs. This may include education in basic life skills, digital training and English and maths. As part of the fund, a multi-million pound adult numeracy programme, Multiply, has been allocated across the UK to help people with no or low-level maths skills improve their economic and life prospects.
The UK Government’s flexible approach also means that councils and local partners will have the opportunity to adapt each plan to reflect new economic priorities over the period up to 2025.
Today, the UK Government is publishing the UKSPF Investment Plan for Northern Ireland, which sets out how the funds will be delivered. It is designed to increase pride of place, increase life chances and support growth by investing in key priorities for Northern Ireland.
Funding for the UKSPF will be £2.6 billion between 2022 and 2025, with the figure rising to £1.5 billion per year by March 2025, meeting the UK Government’s commitment to match EU structural funding for each nation.
Local areas across England will receive £1.58 billion, Scotland £212 million, Wales £585 million and Northern Ireland £127 million under the fund.
More information:
Councils have worked with a wide range of local partners to deliver investment plans for communities. A list of agreed interventions for each of the three UKSPF investment priorities for England, Scotland, Wales and Northern Ireland.
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