The UK Shared Prosperity Fund will help to level up and create opportunity across the UK in places most in need, such as ex-industrial areas, deprived towns and rural and coastal communities.
As set out at Spending Review 2020, one portion of the UK Shared Prosperity Fund will support investment in people and skills, in communities and places and in local businesses, all tailored to local needs. A second portion of the Fund will be targeted differently to people most in need, through bespoke employment and skills programmes. This will support improved employment outcomes for those in and out of work in specific groups of people who face labour market barriers.
The Government will publish a UK-wide investment framework later this year.