Transition year update
An additional year of UKSPF funding for 2025/26 has been confirmed.
The aim of the UKSPF extension year is to provide a smooth transition from the existing UKSPF programme to a new, future funding framework.Funding for 2025/26 can be used to support investment in activities from 1 April 2025 to 31 March 2026, including continuations of existing activity where appropriate.
Plymouths allocation of funding for 2025/2026 is £1,024,429
2022 to 2025 Overview
The UK Shared Prosperity Fund (UKSPF or the Fund) is a central pillar of the UK government’s ambitious Levelling Up agenda and a significant component of its support for places across the UK. The Fund has provided £2.6 billion of funding for local investment in years 2022-2025, with all areas of the UK receiving an allocation from the Fund through a funding formula rather than a competition.
You can read the UK Shared Prosperity Fund prospectus page for more information.
Programmes and live projects
Investment priorities
The Fund has three investment priorities: community and place, supporting local businesses and people and skills; all overarched by one objective, building pride in place and increasing life chances. Plymouth’s Core UKSPF allocation for 2022 to 2025 was £3,131,412.
View the full breakdown of interventions, objectives, outcomes and outputs.
Allocation methodology
For England, a blended approach was taken to allocate funding to each place. The blended approach takes into account the following:
- Maintains EU structural fund distributions, 70% is allocated on a per capita bases.
- 30% of the allocation uses the same needs-based index previously used in identifying UK Community Renewal Fund priority places, predominantly:
- Productivity
- Household income
- Skills
- Productivity – place with lower population density
View the full methodological note.
Multiply
UKSPF also introduces the Multiply programme. This is a new, up to £559 million, programme to help transform the lives of adults across the UK, by improving their functional numeracy skills through free personal tutoring, digital training, and flexible courses. Plymouth’s allocation for the Multiply programme was £1,317,533.
If you have any questions for Plymouth City Council regarding the UK Shared Prosperity Fund please email [email protected]
Investment plan
The council developed an investment plan on how Plymouth will allocate this funding. The funding will start to become available by the autumn.
Read the investment plan that Plymouth submitted, which includes the strengths and opportunities we were required to identify for this funding.
Additional information recently published by GOV.UK provides greater detail on the fund, including definitions of the required outputs and outcomes.