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UK Shared Prosperity Fund

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 up to March 2025. This fund replaces European Union structural funds. The fund is focused on building pride in place, supporting high quality skills training, supporting pay, employment and productivity growth and increasing life chances in local places.

Lancaster City Council has been allocated £5.3million which will be split between the following three core Priorities, as defined by Government:

  • Communities & Place
  • Supporting Business
  • People & Skills

The council’s local Investment Plan, which includes an indicative idea of how the funds could be allocated across the three Priorities to benefit the Lancaster district, was submitted in summer 2022 and approved by Government in December 2022.




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