The UK Shared Prosperity Fund was launched by central government in early 2022 to support its ‘levelling up’ agenda. All local councils have been allocated a share of the fund to invest in their areas by March 2025.
Burnley Borough Council has been allocated £3,488,102.00 over the next three years. This can be used to support a wide range of interventions to build pride in place and improve life chances, across three investment priorities:
- Community and place
- Supporting local business
- People and skills
To access this funding, we must submit an investment plan by 1 August 2022. This will set out the mix of activities we will deliver to meet our local needs.
Developing our investment plan
To develop our local investment plan, we will build on our existing Economic and Community Recovery Strategies, working with local partners including the voluntary and community sector organisations, business representatives and other key stakeholders. We have taken the following action so far:
- We are already starting to identify the activities that will be the right solutions for our borough and that will have the greatest impact.
- We are exploring opportunities to harness the skills and experience of partners who are best placed to deliver projects and interventions.
- We are considering where it is more effective to work at county level.
- The Shared Prosperity Fund is intended to replace EU funding, so we are talking to those organisations who have allocated EU funds locally.
We will provide updates as our investment plan develops.
Information about the Shared Prosperity Fund can be found on GOV.UK
Post expires at 8:50am on Monday August 8th, 2022