APPENDIX 3  UK Shared Prosperity Fund (UKSPF)

UKSPF is the Government's domestic replacement for the European Structural and Investment Fund Programme (ESIF) in which the UK continues to participate until 2023

The UKSPF will support the UK government’s wider commitment to level up all parts of the UK

There are 3 investment priorities:

• Community and Place
• Supporting Local Business; and
• People and Skills

Mayoral combined authorities, second tier and unitary authorities have received a conditional allocation from UKSPF. In East Sussex these are:

Eastbourne      £1m

Hastings          £1m

Lewes              £1m

Rother             £1m    

Wealden          £1.17m

This is the total allocation to 24/25 and is not per annum.  To access their allocation, each place will be asked to set out measurable outcomes that reflect local needs and opportunities in an investment plan due for submission to government no later than 1^st August 2022.

Government expects lead local authorities to demonstrate that they have actively reached out to MPs and other partners, and that investment plans demonstrate local consensus for the plan.

The scope and scale of business support that can be provided through UKSPF will be much reduced from what was previously funded through European Funding.  For example, the budget for just two of ESCC’s flagship programmes over a 3-year period was over £4m – i.e. equivalent to some 77% of the entire SPF allocation to all the District and Borough Councils combined.