Investment plan agreed to access Government funding

Published on Fri Jul 29 2022
Landscape hot of Burnley centre over the tops of houses and buildings, with countryside in the background

In May the Government issued details of the UK Shared Prosperity Fund which included an allocation of almost £3.5 million for Burnley.

In order to access the money Burnley Council must submit an investment plan to the Government.

The plan sets out how the funding will be used over the next three years to promote local business growth, improve people’s skills and learning, and support community projects.

The investment plan proposes a range of projects including a grants scheme to allow voluntary organisations and community groups to improve their neighbourhoods and community facilities; a programme of investment in green spaces and play facilities; a comprehensive programme of business support to assist businesses to be more productive, reduce their carbon footprint and create new jobs; and a program of support to assist people not in employment to help the move closer to employment, education and training.

The Shared Prosperity Fund (SPF) replaces European Union funding streams previously delivered on a county-wide basis. Across Lancashire, the amount of SPF funding available is approximately 40% less than the current European funding programmes.

Council leader Councillor Afrasiab Anwar said: “While it’s disappointing that we’re receiving less money than before through EU programmes, it’s still good news to see almost £3.5 million of investment coming into our borough over the next three years.

“Our investment plan clearly sets out how we will use this funding as effectively as possible to make sure we squeeze every bit of value we can out of it. The focus will be on supporting local business growth and entrepreneurship and boosting our communities and supporting the skills of our residents and businesses.”

In drawing up the plan council officers assessed the proposed interventions against the council’s priorities identified in its economic recovery and growth strategy and the community recovery plan.

In terms of projects to deliver the interventions the council is working with locally based organisations, harnessing the skills and experience of partners who are best placed to deliver projects and interventions to co-design and commission services.

The council’s executive has approved the investment plan which will be submitted to the Government.

Post expires at 7:00am on Saturday October 29th, 2022