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  • UK Government - Shared Prosperity Fund Prospectus

    Created: 06/05/2022
    News/Events Category: General News

    The UK Shared Prosperity Fund is 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.

    Details on the form and process of the UK Shared Prosperity Fund are now available in the UK Shared Prosperity Fund Prospectus.

    Details of allocations specific to Scotland are available here.

    This Prospectus provides information to local authorities and other partners across the United Kingdom on:

    Part 1

    • The aims of the UK Shared Prosperity Fund
    • What to use the funding for
    • The funding places will receive
    • How to deliver the Fund
    • The investment plan process

    Part 2

    • The Fund’s parameters
    • How we will pay each place or project
    • How we will work with each place to measure impact

    It builds on pre-launch guidance published in February 2022.

    For further information, you can contacting the UK Government on any of the content of this guidance or via the Department for Levelling Up, Housing and Communities area team for your area.

    Further information on the UK Shared Prosperity Fund can be found here.

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