Purpose

Government launched the UK Shared Prosperity
Fund (UKSPF) on 13 April 2022. The funding replaced European
Structural and Investment Funds (including ESF/ERDF) with all areas
of the UK receiving a three year allocation via a funding formula.
UKSPF is aligned with the previous government’s Levelling-Up
White Paper missions, with a primary goal to ‘build pride in
place and increase life chances across the UK’. Underneath
the overarching aim there are three UKSPF investment pillars:
•communities and place
•supporting local business
•people and skills.
BCC submitted proposals totalling £5.3M under the three
strategic pillars and our approach was agreed by Cabinet on 7 March
2023 with decisions delegated to the Executive Director –
Growth

Content

To accept and spend UK SPF funding of
£2,001,629 from the West of England Mayoral Combined
Authority

Alternative options considered

No other options considered as delegations in
place from March 2023 Cabinet decision.