The Shared Prosperity Fund (UKSPF) was launched by Government on 13 April 2022 and this paper briefly summarises the UKSPF Prospectus.
There will be opportunities in the development of local Investment Plans for the housing sector as a whole to work in partnership so that the UKSPF flowing into communities aligns with housing priorities.
Within the short window for submission of investment plans, the housing sector’s collective evidence will support the prioritisation of housing need and for all stakeholders across social housing to contribute their evidence in partnership.
The Northern Housing Consortium will work to highlight areas of good practice and collaboration between our unique membership of Local Authorities, Housing Associations, and ALMOs and ensure the contribution of each is maximised. We encourage all those working in relation to the UKSPF to share their views and examples of collaborative working by getting in touch.
What is the UKSPF? – The UKSPF, which will succeed the EU structural funds, is designed around three key themes: Community and Place; Supporting Local Businesses and People and Skills. It complements the Levelling Up Fund with investment covering regenerating high streets, tackling anti-social behaviour or helping more people into jobs. It will be the main source of funding to support employment provision. The initial fund will total £2.6bn between 2022-2025, reaching £1.5bn per year by March 2025 and this funding is central to the Levelling Up agenda. There is also a £559m adult numeracy programme for the whole UK called Multiply.
Delivery – The Fund operates primarily over the strategic geographies of the Mayoral Combined Authorities (MCAs) and will be planned and delivered by lead authorities that can be either a local authority or a mayoral combined authority.
Allocations – The Fund will be allocated via a funding formula rather than a competition through local partnerships. DLUHC said the allocation formula considers local population data and a broadly based measure of need, including factors such as unemployment and income levels. See Appendix A for Northern regional allocations.
Each allocation will comprise both revenue and capital funding over the next three years and all places will receive an allocation which is conditional upon an investment plan being submitted to the Government for approval.
Investment Plans – Local government is being given responsibility for developing investment plans which should set out their local evidence of opportunities and challenges within the three investment priorities. Investment plan submissions will be between 30 June 2022 to 1 August 2022 with first payments expected to lead local authorities from October 2022.
Next steps – each place must work with partnerships to develop a plan setting out how they will target their funding on local priorities, against measurable goals.
UK Shared Prosperity Fund Funding Allocations
|Local Authority and CA||UKSFP Core||Multiply||Total UKSFP Core|
|North of Tyne CA||£47,085,061||£4,128,607||£51,213,668|
|South Yorkshire CA||£38,906,130||£7,256,309||£46,162,439|
|Liverpool City Region||£44,380,307||£8,375,194||£52,755,501|
|West Yorkshire CA||£68,002,877||£12,483,680||£80,486,557|
|Redcar & Cleveland||£9,160,627|
|Stockton on Tees||£11,655,967|
|Unitary Authorities||UKSFP Core||Multiply||Total UKSFP Core|
|Blackburn with Darwen||£5,933,293||£851,021||£6,784,314|
|Cheshire West and Chester||£11,145,008||£1,497,303||£12,642,312|
|East Riding of Yorkshire||£10,419,619||£1,523,637||£11,943,257|
|Kingston upon Hull||£9,081,013||£1,533,466||£10,614,478|
|Lower tier authorities||UKSFP Core||Multiply||Total UKSFP Core|
|Upper tier local authorities||UKSFP Core||Multiply||Total UKSFP Core|
 ‘Multiply’ is a programme that aims is to increase the levels of functional numeracy in the adult population across the UK.
 Restructuring of local government in Cumbria will mean that delivery arrangements will be updated. Individual plans for each of Cumbria’s district council areas are still needed.
 Parliament has agreed legislation to restructure local government in North Yorkshire (excluding York). North Yorkshire County Council, as a ‘continuing authority’ is now tasked with developing a county-wide plan for delivery of UKSPF.