Purpose

The report seeks a decision from Cabinet to
approve the drawdown of the UK Shared Prosperity Fund (UKSPF) from
central government. Newham has been allocated £1,410,263 for
2025/26 compromising of £941,661 in capital and
£468,602 in revenue funding. The Greater London Authority
(GLA) has been designated as the Lead Authority to manage the UKSPF
in London and will be working closely with boroughs in order to
administer the Fund.
 
Cabinet is recommended to agree:
 
To drawdown Newham’s full UKSPF
allocation of £1,410,263
To approve expenditure in line with the
proposals outlined in Appendix A,
Delegate authority and authorise the Corporate
Director of Inclusive Economy and Housing in consultation with the
Lead Member to:
a)  take the necessary
decisions and actions required to accept the allocation of funds;
and
b)  implement,
administer and finalise the projects as set out in this report
(noting that all decisions will be subject to compliance with grant
conditions and where relevant the Council’s contract standing
orders).
 

Decision

Decision
 
For the reasons set out in the report and its
appendices Cabinet RESOLVED to Agree to:
 

i) 
Accept and drawdown Newham’s full UKSPF allocation of
£1.4m.

ii) 
Approve expenditure in line with the proposals outlined in Appendix
1.

iii) 
Approve the increase of the capital budget by £905k following
the allocation of funding (as per the projects included within
Appendix 1).

iv) 
Delegate authority and authorise the Corporate Director of
Inclusive Economy, Housing and Culture, in consultation with the
Lead Member for Inclusive Economy, Strategic Housing and Culture
to:

a) 
Take the necessary decisions and actions required to accept the
allocation of UKSPF funds; and

b) 
Implement, administer and finalise the projects as set out in this
report (noting that all decisions will be subject to compliance
with grant conditions and where relevant the Council’s
contract standing orders).

v) 
Note that the proposals set out in Appendix 1 have been submitted
to the GLA for consideration and may be subject to change. In the
event of any significant variation to the proposals, Cabinet will
be informed accordingly to discuss implications and allowing it to
take any necessary steps.
 
Alternatives
Considered
 
a) 
Do not take part in the UKSPF scheme. This is not recommended as
there would be no benefit for Newham.
b) 
Rebalance the funding between the proposed projects/programmes, or
identify different projects or programmes to allocate the money to.
The proposals have been identified to strike a balance between
supporting existing services (where savings have been made in
existing budgets), and delivering on the UKSPF outcomes and London
Growth Plan priorities. Any reallocation should similarly align
with stated UKSPF outcomes in order to meet GLA funding
requirements and will require a change request to be submitted and
approved by the GLA. Given the time constraints for the funding to
be spent, identifying new projects or programmes is not
recommended.