UK Shared Prosperity Fund
The Government announced in its Autumn Budget on 30 October 2024 that the UK Shared Prosperity Fund would be extended for an additional year at a reduced level. Cotswold District Council was notified in December 2024 that its allocation for 2025/26 would be £327,146, being £60,401 capital and £266,745 revenue funding. A report will be taken to the Council’s Cabinet in February 2025 setting out the Council’s approach to the use of this funding.
About the fund
Cotswold District Council has been awarded £1 million over 3 years from the UK Shared Prosperity Fund (UKSPF). The funding is allocated as follows:
|
2022/23 |
2023/24 |
2024/25 |
|---|---|---|
|
£109,563 |
£219,127 |
£671,310 |
The UK Shared Prosperity Fund is a central pillar of the UK government’s Levelling Up agenda and provides £2.6 billion of funding for local investment by March 2025. The fund aims to improve pride in place and increase life chances across the UK investing in communities and place, supporting local business, and people and skills. For more information, visit https://www.gov.uk/government/publications/uk-shared-prosperity-fund-prospectus
The Council has submitted a ‘Local Investment Plan’ for the UKSPF, setting out how we propose to use the funding, which was approved in December 2022 meaning we can now proceed with projects.
The issues we’re looking to address
The UKSPF seeks to address a whole range of issues through a range of ‘interventions’ prescribed by the Government, from which local councils can choose. Cotswold District is looking to:
- Support town centres
- Improve open spaces, including through enhancing biodiversity
- Support communities to bring forward improvements to their local areas
- Encourage active travel, like cycling and walking
- Support projects which help to address the climate crisis, including helping make buildings more energy efficient and making sure the skills exist locally to do this work
- Create good quality, well-paid jobs for local people and help more businesses to start up and expand
- Bring more people into the labour market to tackle staff shortages
How decisions are made
We’ve already run an application process for each of the years of the UKSPF. The applications were assessed against the aims of the funds and our own local priorities. An Evaluation Panel, made up of people from inside and outside the Council, made the final recommendation to the Council on which projects to support. There may be a further opportunity to bid for any remaining funding. Please keep checking the website and the Council's social media channels.
UKSPF Year One (2022/23) Projects
Details of the projects the Council supported in 2022/23 can be found in the attachment below:
UKSPF 2022 23 - pdf - 42 Kb
UKSPF Year Two (2023/24) Projects
Details of the projects the Council supported in 2023/24 can be found in the attachment below:
UKSPF Year Three (2024/25) Projects
Details of the projects the Council supported in 2024/25 can be found in the attachment below:
Moreton Show – Accessibility and Public Facilities Initiatives
The well-known Moreton Agricultural Show, which takes place in September each year has made some changes to improve the accessibility and public facilities at the event. The Council supported these measures with some funding from the Government's UK Shared Prosperity Fund. The show organisers have produced a report on their experience so that other event organisers can learn from it, which can be downloaded here.