UK Shared Prosperity Fund

Overview

The Shared Prosperity Fund (SPF) is a central pillar of the UK Government's Levelling Up agenda, providing £2.6 billion of new funding for local investment by March 2025. 

There are three themes to the SPF:

• Community and Place
• Supporting Local Business
• People and Skills

The Fund’s interventions will be planned and delivered by councils and mayoral authorities across England, Scotland and Wales – ‘lead local authorities’, working closely with local partners and the Scottish and Welsh governments. Further details of the SPF can be found on the UK Government's website (Opens in a new window).

SPF in Broxtowe

Broxtowe Borough Council has been allocated £2.58 million from the Government's UK Shared Prosperity Fund.

In August 2022, the Council submitted their Investment Plan to Government which identified how this Fund will be allocated to help level up in Broxtowe. The Investment Plan identified a range of projects and services that would address the needs within Broxtowe and that fall in-line with the themes of the SPF.

In December 2022, the Council received confirmation from Government that the Investment Plan was approved.

UKSPF Broxtowe Grants in 2023 have included SME Energy, Micro-Business and High Street Business Grants which awarded over £116,000  of funding to 32 different Broxtowe Businesses. 

A Communities and Place Grant programme was launched in November 2023. Over £285,000 in grants has funded projects for 16 Community Organisations.

This UKSPF Programme ends in March 2025. All funded projects will be complete by this date.

Enquiries about the Shared Prosperity Fund can be sent to the Economic Development team at SPF@broxtowe.gov.uk