The UK Shared Prosperity Fund (UKSPF) was launched by government on 13 April 2022. Nationally, it provides £2.6bn of government funding between 2022-25 that is central to the Levelling Up agenda.
Government provided North of Tyne Combined Authority (NTCA) a non-competitive allocation for delivery across Newcastle, North Tyneside & Northumberland.
- £51.2m in total for the North of Tyne area
- £47.1m – core UK Shared Prosperity Fund
- £4.1m – Multiply
Building on our existing priorities, we developed a Local Investment Plan which was submitted to Government before their August 1st deadline. A summary of our Local Investment Plan can be downloaded here.
The plan takes account of the three themes of the fund as set out by Government:
- Community and place
- Local businesses
- People and skills
Guidance from Government on core funding was that the first two years of our plan should focus on Communities and Place, and Local Businesses. In the third year, the fund can be used for People and Skills. The Multiply programme will be delivered across all years.
Government has indicated that plans will be approved in October. We will update this page when we have further news.
We would like to thank everyone who participated in our stakeholder engagement and consultation programme. Your contributions were invaluable in developing our UKSPF Plan for the North of Tyne area.