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Update on the UK Shared Prosperity Fund

05 December 2022

Proposing MP
Dehenna Davison
N/A
Type
Written Ministerial Statement
Department
Department for Levelling Up, Housing and Communities
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At a Glance

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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