Context
The UK is replacing EU structural funds with the shared prosperity fund, which will impact how taxpayer money is spent.
Question
What progress has been made in establishing the UK shared prosperity fund? The community renewal fund worth £220 million was closed for applications last week. What further details can be provided about distributing these funds and future plans?
Answer from Alister Jack
The community renewal fund worth £220 million closed for applications last week. The prospectus for the shared prosperity fund will be published later this year. The Prime Minister has assured that plans to replace EU structural funds will at least match previous figures, with a total of £1.5 billion from April 2022.
Not addressed: The questioner asked about fair distribution but the answer focused on general progress and assurances without specifics on distribution methods for coastal and rural areas.
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