About the UK Shared Prosperity Fund
The UK Shared Prosperity Fund (UKSPF) is a central pillar of the Government’s levelling up agenda and provides £2.6 billion of funding for local investment by March 2025. The fund aims to improve pride in place and increase life chances across the country, investing in communities and place, supporting local business, and people and skills. You can find out more in the UK Shared Prosperity Fund prospectus on the Government website.
To access this funding, local authorities were required to submit investment plans to Government for approval by the Department for Levelling Up Housing and Communities.
The Council gathered stakeholder input to give their views on what are the most pressing local challenges that need to be addressed, and the projects and initiatives that could best address them. This input was combined with data about the local area and existing funding, the Government criteria, and wider strategic priorities to inform the development of the investment plan.
Following Government approval of our plan, we can confirm Derby City Council has been awarded £6.1 million of core UKSPF funding that needs to be utilised by 31 March 2025.
This funding has three core investment priorities:
- communities and place
- supporting local business
- people and skills.