UK Shared Prosperity Funds (UKSPF)
South Tyneside has been allocated £8.8m of UK Shared Prosperity Funds (UKSPF) by Government over the next three years (2022 / 2023, 2023 / 2024 and 2024 / 2025).
UK Shared Prosperity Funds are the £2.6bn UK-wide successor to European Structural and Investment Funds (such as ERDF and ESF) and will run for 3 years.
To access this allocation, South Tyneside Council produced a Local Investment Plan, which highlighted:
- our priorities
- potential key programmes and projects
- associated outputs and outcomes
The plan was submitted to Government by its deadline of August 2022. This follows a process last Summer where the Council published a prospectus on key projects and asked for projects to come forward.
The first projects have been selected following a thorough four-step appraisal process.
Further projects will be identified to benefit from the second and third year allocations of the scheme.
There are three key themes of the fund:
- Supporting local business
- Communities and place
- People and skills
What the fund aims to do
The fund aims to:
- Build pride in place
- Increase life chances across the UK
More information about the fund
For full details about the fund, go to:
If you have further questions, email email@example.com.