UK Shared Prosperity Fund

The UK Shared Prosperity Fund (UKSPF) is a central pillar of the UK Government's Levelling Up agenda and a significant component of its support for places across the UK.

It provides £2.6 billion of new funding for local investment by March 2025, with all areas of the UK receiving an allocation.

The  Mid Wales Regional Investment Plan for the UK Shared Prosperity Fund 2022-25 (PDF) [2MB] document produced by Ceredigion and Powys Local Authorities along the Growing Mid Wales footprint sets out the priorities for investing the £42.4m UKSPF allocation in Mid Wales over the next three years, up until March 2025.

It has been informed by our local economic strategies and Wellbeing assessments, regional documents and studies, lessons learnt from previous funding rounds and considerable stakeholder engagement.

The UKSPF will support the UK Government's wider commitment to level up all parts of the UK by delivering on each of the levelling up objectives:

• Boost productivity, pay, jobs and living standards by growing the private sector, especially in those places where they are lagging

• Spread opportunities and improve public services, especially in those places where they are weakest

• Restore a sense of community, local pride and belonging, especially in those places where they have been lost

• Empower local leaders and communities, especially in those places lacking local agency

• Through the Multiply Programme, increase levels of functional numeracy in the adult population (Multiply is an adult numeracy programme announced by the UK Government as part of the UK Shared Prosperity Fund.)

As set out in the SPF guidance, Ceredigion and Powys will deliver their SPF allocations by investing across the investment priority areas listed below;

(a) Communities and Place

(b) Supporting Local Business

(c) People and Skills

(d) Multiply

Mid Wales Regional Investment Plan for the UK Shared Prosperity Fund 2022-25 (PDF) [2MB]

 The first opportunity to submit applications was announced on 9^th March, 2023.  Please see "Open Calls" for details and application dates.

Please note that the Local Authority areas of Ceredigion and Powys are in receipt of individual allocations for the UK SPF. Please contact the relevant Local Authority where you wish to deliver activity in order to discuss further. If intending on submitting a regional bid, please contact both authorities.

For more information email:

• Ceredigion ukspf@ceredigion.gov.uk
• Powys ukspf@powys.gov.uk

Please see the Mid Wales Regional Shared Prosperity fund webpage for further information.