On 13th April, Government published more detail about how the UK Shared Prosperity Fund (UKSPF) will work.
The North of Tyne Combined Authority (NTCA) – covering the areas of Newcastle, North Tyneside and Northumberland – has been allocated a total of £51.2m to invest over three years. This is broken down into £47.1m of core funding and £4.1m for the national ‘Multiply’ programme.
Government confirmed the overall national level of funding for each year – £400m in the first year, £700m in the second and £1.5bn in year three. We expect funding to made available to us in a similar way – rising each year.
NTCA can now accelerate our plans for this fund. Building on our existing priorities, we will develop a Local Investment Plan to be submitted to Government between 30 June 2022 and by 1 August 2022.
The plan will take 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 is 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.
In developing the plan, we will be mindful of the fund’s objectives:
- Boost productivity, pay, jobs and living standards, 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
To develop our Local Investment Plan, we will work in partnership with Newcastle, North Tyneside and Northumberland Councils. And we will consult with local MPs, who have an important role to play in helping identify priorities for their constituents.
Briefing and consultation
We held an online briefing event on Thursday, 28 April 2022 14:00 – 15:00 BST which was an opportunity to hear more about delivering the UK Shared Prosperity Fund for the North of Tyne, the fund and the fund’s three core themes.
You can download the presentation from the event here.
This online briefing marks the beginning of a series of activities that will be undertaken.
Please contact us at: firstname.lastname@example.org if you require any further information.
We also recognise the importance of working together across the wider region. We will be engaging with neighbouring Authorities – Gateshead, South Tyneside, Sunderland, and Durham – to share learning and best practice, and identify areas for collaboration. A further regional consultation event is being planned for early May for providers who are interested in delivering projects across a range of these Local Authority areas.
Government guidance on Shared Prosperity Fund
NTCA corporate plan