The UK Shared Prosperity Fund (UKSPF) is a central pillar of the UK Government’s ambitious Levelling Up agenda. It is 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. The primary goal is to build pride in place and increase life chances across the UK.
Underlying this goal are three investment priorities:
1. Communities and place
Investment in activities that enhance physical, cultural and social ties and access to amenities, such as:
- community infrastructure
- local green space
- innovative approaches to crime prevention
2. Supporting local business
- investment in business support and entrepreneurship programmes
- local retail, hospitality and leisure facilities
- productivity-enhancing, energy efficient and low carbon technologies in collaboration with the private sector
3. People and skills
- investment in measures to enable adults to join and progress within the labour market
- boosting their core skills through support for qualifications
- training and to overcome barriers to work
Further information is available in the UK Shared Prosperity Fund Prospectus
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