£2.6 billion of levelling up funding will be awarded to communities across the UK through the UK Shared Prosperity Fund (‘UKSPF’), the Government has announced.
The UKSPF invests in local communities by helping to regenerate high streets, tackle economic decline, and reverse geographical inequalities – with areas in greater need receiving more support. The funding is part of the Government’s mission to level up the UK, by ensuring that where an individual is born does not determine the success and opportunities afforded to them.
Julia has welcomed the news that as part of this investment, £185,390,561 has been awarded to the Greater London Authority. This money will be given to locally elected authorities and leaders who best know what their communities need – helping to slash bureaucracy and support communities in seizing new opportunities.
The spending confirms that the Conservative Government has fulfilled its commitment to match previous EU funding on social and regional development.