UK Shared Prosperity Fund: prospectus

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.

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