Commons Sense

House of Commons · Written Ministerial Statement

Update on the UK Shared Prosperity Fund

05 December 2022 · Department for Levelling Up, Housing and Communities

Proposed by Dehenna Davison Con Bishop Auckland

EconomyLocal GovernmentNorthern IrelandScotlandWales

Summarised by AI from the official record, so it can contain mistakes.

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At a glance

Key points

  • The UK Shared Prosperity Fund local investment plans have been validated and approved in England, Scotland, and Wales.
  • The validation and approval of the local investment plans unlocks three years of funding worth 2.6 billion.
  • The UKSPF Investment Plan for Northern Ireland has been published, outlining specific interventions to support the local economy and people.

Issue summary

The statement addresses the approval and validation of local investment plans under the UK Shared Prosperity Fund (UKSPF) for England, Scotland, Wales, and Northern Ireland.

Action requested

Local investment plans have been validated and approved in England, Scotland, and Wales, unlocking three years of funding worth £2.6 billion including Multiply. The UKSPF Investment Plan for Northern Ireland has also been published, outlining specific interventions to support the local economy and people.

Key facts

  • The UK Shared Prosperity Fund (UKSPF) Prospectus was launched in April.
  • Local investment plans have been validated and approved for England, Scotland, and Wales.
  • Three years of funding worth £2.6 billion including Multiply is unlocked.
  • The UKSPF Northern Ireland Investment Plan has been published outlining specific interventions.
  • The fund targets building pride in place; growing pay, employment and productivity; supporting high quality skills training; and increasing life chances across the UK.
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