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Cardiff Council

www.cardiff.gov.uk

Social Prosperity Fund

In April 2022 the UK Government published details on the new £2.6bn Shared Prosperity Fund. The funding is allocated to places across the UK on a needs basis, details on the allocations are available on the UK Government website.

The United Kingdom Shared Prosperity Fund (UKSPF) will support the UK government's Levelling Up objectives, namely to: 

  • Boost productivity, pay, jobs and living standards by growing the private sector, especially in those places where they are lagging
  • Spread opportunities and improve public services, especially in those places where they are weakest
  • Restore a sense of community, local pride and belonging, especially in those places where they have been lost
  • Empower local leaders and communities, especially in those places lacking local agency

 

To do this it has three investment priorities and objectives: 

Community and Place​

  • Strengthening our social fabric
  • Community infrastructure
  • Local green spaces
  • Community-led projects.
  • Building resilient, safe and healthy neighbourhoods

Supporting Local Business

  • Creating jobs and boosting community cohesion
  • Promoting networking and collaboration
  • Increasing private sector investment in growth-enhancing activities

​People and Skills 

  • Boosting core skills and support adults to progress in work
  • Reducing levels of economic inactivity through investment in bespoke intensive life and employment support
  • Supporting people furthest from the labour market to overcome barriers
  • Supporting local areas to fund gaps in local skills provision to support people to progress in work, and supplement local adult skills provision.

 

How the Shared Prosperity Fund operate in the Cardiff Capital Region​​​​​​

 

The UK Government has allocated £278m across the ten local authorities of South East Wales.

In order to release the funding, the UK Government first needs to approve an Investment Plan. 

In Wales these plans will be developed on a regional basis, meaning that for South East Wales a plan must be developed for the Cardiff Capital Region footprint. 

To do this the local authorities of the Cardiff Capital Region will be identifying a lead local authority to bring the plan together. 

P​lan outline

Local context: showing evidence of opportunities and challenges through the lens of the three investment priorities for UKSPF.

Selection of outcomes and interventions: identifying the outcomes to target based on local context, and the interventions to prioritise, under each investment priority.

Delivery, detailing:

  • Approach to delivery and governance
  • Expenditure and deliveable
  • ​Capability and resource

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How the Investment Plan is influenced 

The Investment Plan requires the identification of local opportunities and challenges that relate to the three investment priorities of the SPF, and to then identify the outcomes and interventions that best address those challenges. 

We would therefore welcome any partners to submit any evidence to support the development of the plan, specifically relating to the issues identified below:

Opportunities and challenges​

Evidence of need for support relating to the three priorities of the UKSPF

Areas of opportunity relating to the three priorities of the UKSPF

Outcomes​​​

Which outcomes should be the focus of the UKSPF in the Cardiff Capital Region?

What would success look like for the Cardiff Capital Region?

Interventions

Which interventions identified in the UKSPF for Wales should be prioritised?

What types of projects should be supported?​​

​ 

Please note: Submissions or proposals for projects are not being required at this stage, however suggestions of the types of projects that could be supported this can be used to help inform the Investment Plan.

 

What the UK Shared Prosperity Fund means for communities, residents and local organisations​​

 

The development of the Investment Plan is the beginning of the Shared Prosperity Fund process. 

In the period between submission and approval the lead authority will continue to work with local authorities to provide further detail on how the fund will be administered in the Cardiff Capital Region. 


During this period, we will work with local partners to consider the delivery phase of the Shared Prosperity Fund.

It must be emphasised that local areas are responsible for the delivery at local levels. 

There will be considerable engagement with communities and stakeholders on those local delivery plans.

 

For more information, please contact: info@cardiffcapitalregion.wales

 

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© 2022 Cardiff Council