The UK Shared Prosperity Fundis the UK Government's response to the removal of investment in local infrastructure and service delivery funded in the past by EU monies following the UK leaving the European Union. .
This fund is a central pillar of the UK government’s 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 via a competition. It will help places across the UK deliver enhanced outcomes and recognises that even the most affluent parts of the UK contain pockets of deprivation and need support.