The UK Shared Prosperity Fund

The UK Shared Prosperity Fund

14/07/22 - Information about the UK Shared Prosperity Fund and how qualifying organisations can express their interest.

What is the UK Shared Prosperity Fund?

The UK Shared Prosperity Fund (UKSPF or the Fund) is a central pillar of the UK government’s ambitious Levelling Up agenda and a significant component of its support for places across the UK. It provides £2.6 billion of new funding for local investment by March 2025, with all areas of the UK receiving an allocation from the Fund via a funding formula rather than a competition. It will help places right across the country deliver enhanced outcomes and recognises that even the most affluent parts of the UK contain pockets of deprivation and need support.

Places will be empowered to identify and build on their own strengths and needs at a local level, focused on pride in place and increasing life chances. Local places will be able to use the Fund to complement funding such as the Levelling Up Fund, and mainstream employment and skills provision to maximise impact and simplify delivery.

The three themes of the UK SPF are:

  • Community and Place
  • Supporting Local Business
  • People and Skills

The Fund’s interventions will be planned and delivered by councils and mayoral authorities across England, Scotland and Wales – ‘lead local authorities’, working closely with local partners and the Scottish and Welsh governments.

Expressions of interest

Broxtowe Borough Council are calling for expressions of interest in the UK SPF from:

  • Local organisations that are currently in receipt of European Structural and Investment Funds including the European Social Fund and the European Regional Development Fund.
  • Local organisations that would benefit from the UK SPF and whose purpose and aims fit in with the themes of the UK SPF

Organisations must be based or operate in Broxtowe and must align with the themes of the UK SPF.

To express your interest for UKSPF funding for 2023/4 or 2024/5, please complete the Expression of Interest UK Shared Prosperity Fund, Broxtowe Borough Council form (.doc) (11.9kb) (Opens in a new window) and email to economic.development@broxtowe.gov.uk

You must complete the form by Friday 22 July at 5.00pm. There will be further calls for Expressions of Interest in the Autumn.

For further details on the UK SPF, please see the Prospectus on the Government's UK Shared Prosperity Fund prospectus website (Opens in a new window).

For further details on the investment priorities and how your organisation/project aligns with them, please see the interventions lists on the Government website (Opens in a new window). 

 


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