UK Shared Prosperity Fund (UKSPF)
14th April 2022
The UK government has announced the launch of the UK Shared Prosperity Fund (UKSPF) worth £2.6 billion. Led by Department for Levelling up, Housing and Communities (DLUHC), the UKSPF is a central pillar of the UK government’s Levelling Up plans and will provide new funding for local investment between 2022 and 2025, with all areas of the UK receiving funding.
Funding will match what was previously spent in Scotland, Wales, Northern Ireland and in each Local Enterprise Partnership (LEP) area in England. Local areas across England will see £1.58 billion, Scotland £212 million, Wales £585 million and Northern Ireland £127 million made available under the fund.
Activity will be planned and delivered by councils across England, Scotland and Wales, working closely with local partners. In Northern Ireland, the UK government will work with partners to develop and deliver the fund.
The funding delivers on the UK government’s commitment to match the previous EU funding from the European Social Fund and European Regional Development Fund. However, UKSPF will be more flexible and locally led and there will be more discretion over what money is spent on.
The fund also includes a new £559 million adult numeracy programme for the whole UK, Multiply, which is an early priority for the UKSPF. The scheme will support people with no or low-level maths skills to get back into work, offering free personal tutoring, digital training, and flexible courses to improve adults’ numeracy skills.
North Somerset Council is a lead authority for UKSPF and Multiply in the region. Region’s allocations and further information can be found below.