Pre-launch guidance for UK Shared Prosperity Fund

The Government has published pre-launch guidance about the UK Shared Prosperity Fund (UKSPF). 

This provides further information to local authorities and other partners across the United Kingdom on:

  • the aims of the UK Shared Prosperity Fund
  • its contribution to our shared objectives
  • the delivery roles of the UK Government and local partners across the UK

It builds on the information provided at successive Spending Reviews, and in the Levelling Up White Paper. It draws on extensive engagement with over 500 representatives from a range of sectors and partners across the UK. It will enable places to start initial preparations for the Fund’s launch. The Government will publish a full prospectus on the Fund and how it will operate later in the spring.

The UKSPF 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. This recognises that even the most affluent parts of the UK contain pockets of deprivation and need support.

Local places will be able to use the Fund in conjunction with other funding such as the Levelling Up Fund to maximise impact and simplify delivery. The Fund’s interventions will be planned and delivered by local authorities across England, Scotland and Wales, working closely with local partners. In Northern Ireland, UK Government will have oversight of the Fund.

During February and March, the UK Government will:

  • Run a series of webinars and engagement activities with local authorities and other stakeholders across the UK starting week commencing 7 February 2022.
  • Continue engagement with partners in Scotland, Wales, and Northern Ireland, including the Scottish and Welsh Governments and the Northern Ireland Executive, to develop arrangements that maximise Fund delivery in each nation.
  • Start preparatory work with local partners on an Investment Plan for Northern Ireland.

The Department for Education will set out further details for local partners on plans to deliver Multiply, the £559m adult numeracy programme, to assist with local preparations in due course.

Later in the spring, the UK Government will publish further information on the Fund. This will include the Fund’s outcomes and an interventions toolkit – guidance for how local areas should select local outcomes and a list of interventions from which places can choose. They will publish specific rules and guidance for operating the Fund and will commission each place to develop a local Investment Plan for UK government sign off.