UK Government unlocks £2.6 billion in funding to level up the country by approving local areas’ plans to spend UK Shared Prosperity Fund (UKSPF)
Communities across Scotland will benefit from £212 million of investment in skills, improved high streets, support for local business and more green spaces as the UK takes back control and approves spending plans for funding previously run by the European Union.
The UK Shared Prosperity Fund succeeds EU structural funding but instead of Brussels deciding how and where the money is spent, the UK Government has been working closely with local leaders in Scotland to direct funding where it is most needed.
Under the investment plans approved today, Scotland is receiving at least as much funding as it did before, with projects now free from bureaucratic EU processes and local people having a greater say in how the money is used.
Councils across Scotland have drawn up plans over the summer which include supporting local arts projects, improved sports facilities, export grants for Scottish companies and helping people with core skills such as maths.
The UK Government’s approval of these plans will kickstart delivery across all parts of the country.
Levelling Up Minister Dehenna Davison said:
UK Government Minister for Scotland Malcolm Offord said:
Across the UK, the money will be spent on levelling up in three key areas:
The UK Government’s flexible approach also means that councils and local partners will have the opportunity to adapt each plan to reflect new economic priorities over the period to 2025.
Funding for the UKSPF will be £2.6 billion between 2022 and 2025, with this figure reaching £1.5 billion per year by March 2025, delivering on the UK Government’s commitment to match EU structural funds for each nation.
Notes to Editors
Local areas across England will see £1.58 billion, Scotland £212 million, Wales £585 million and Northern Ireland £127 million made available under the Fund.
Scottish Councils have worked with a wide set of local partners to deliver the Investment Plans for communities. A list of agreed interventions for England, Scotland, Wales and Northern Ireland, for each of the three UKSPF investment priorities.