The UK Shared Prosperity Fund (UKSPF) will help to level up and create opportunity across the UK for places most in need, such as ex-industrial areas, deprived towns and rural and coastal communities, and for people who face labour market barriers.
In addition, to help local areas prepare over 2021/22 for the introduction of the UKSPF, we will provide additional UK funding to support our communities to pilot programmes and new approaches.
The November 2020 Spending Review set out the main strategic elements of the UKSPF in the Heads of Terms. The Government will publish a UK-wide investment framework in Spring 2021 and confirm multi-year funding profiles at the next Spending Review. Further details on the operation of the additional funding in 2021/22 will be published soon.