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
Important dates
- Fund launch: 13 April 2022
- Investment plan submissions window: 30 June 2022 to 1 August 2022
- First payments expected to lead local authorities: from October 2022
- Funding period: April 2022 to March 2025
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.
