The £4.8 billion Levelling Up Fund will invest in infrastructure that improves everyday life across the UK, including regenerating town centres and high streets, upgrading local transport, and investing in cultural and heritage assets.
Applications for the first round of the Levelling Up Fund closed at midday on 18 June. It is expected that investment decisions will be made by the UK Government for this funding round by autumn 2021.
The approach set out in the Prospectus available on GOV.UK will be kept under review for future rounds. Announcements about the future of the Fund will be made later this year.