Today, Monday 1st August, we'll be submitting our investment plan for West Berkshire’s £1,000,000 allocation of funding from the UK Shared Prosperity Fund (UKSPF). The UKSPF is a new Government fund which will be distributed to local authorities across the UK to invest in levelling up the country through local interventions. The fund runs alongside a separate £559 million adult numeracy programme called Multiply.
We have focused our investment plan on the ‘Communities and Place’ and ‘Supporting Local Business’ investment priorities, with interventions spread across 4 main areas of focus. These include: town centre enhancements, creating new sports facilities for local people, supporting local culture and heritage activities, and supporting local businesses with advice and guidance.
The fund is heavily back-ended, meaning we receive 30% of our allocation in the first 2 years, with 70% to be released in the 2024-25 financial year, and we look forward to working with local communities, stakeholders and businesses to deliver effective and efficient outcomes for West Berkshire.