UK Shared Prosperity Fund (UKSPF)
The UKSPF is a central pillar of the government’s Levelling Up agenda. It provides £2.6 billion of new funding for local investment by March 2025.
Investment priorities
There are 3 investment priorities:
Community and place
- Strengthening our social fabric and fostering a sense of local pride and belonging
- To build resilient and safe neighbourhoods
Supporting local business
- Creating jobs and boosting community cohesion by supporting local businesses
- Promoting networking and collaboration and stimulating innovation and growth
- Targeted support to help businesses grow e.g. innovation, productivity, energy efficiency, low carbon and exporting
People and skills
- Boosting core skills and support adults to progress in work
- Supporting disadvantaged people to access the skills they need
- Funding local skills needs and supplementing local adult skills provision
- Reducing levels of economic inactivity and supporting those furthest from the labour market
To find out more about the fund, read the UKSPF prospectus on the government website.
Funding allocation
For Horsham District we have been allocated £1million over 3 years which ramps up in 2024-25:
- 2022-23: £150,000 (15%)
- 2023-24: £270,000 (27%)
- 2024-25: £580,000 (58%)
An Investment Plan was submitted to Government and approved in December 2022. Following extensive consultation, a number of projects have been shortlisted to be delivered over the 3 year programme.