The UK Shared Prosperity Fund (SPF) is a central pillar of the UK government’s Levelling Up agenda. It provides £2.6 billion of funding for local investment by March 2025.
The programme is composed of both revenue and capital funding.
Cardiff Council worked with other South-East Wales local authorities to submit the South-East Wales Regional Investment Plan to the UK Government. This plan outlined the opportunities, challenges and key priorities for South-East Wales and in Cardiff. A regional approach will provide opportunities to share learning and best practice and identify areas for collaboration.
The fund will help us to:
- boost productivity, pay, jobs and living standards by growing the private sector
- spread opportunities and improve public services
- restore a sense of community, local pride and belonging
- empower local leaders and communities
The 3 investment priorities are:
- community and place
- supporting local business
- people and skills
Cardiff Council was allocated just under £42 million
to invest over three years and is operating an investment programme.
We have been working with a range of organisations and stakeholders to influence and shape the Investment Plan at a local level, ensuring local needs and priorities are identified.
Cardiff’s allocation is broken down into £34.5 million of core funding to be spent on the 3 investment priorities. There is a separate pot of £5.7m for the national ‘Multiply’ programme to improve adult numeracy skills. The rest of the allocation is split between regional funding and administering the programme at both local and regional level.
What can be funded?
Projects that apply for funding will be expected to show:
- the ability to meet UK Government criteria for the programme and deliver outcomes from the programme framework
- alignment with local needs that will complement and not duplicate existing provision
- significant local engagement with stakeholders and potential beneficiaries
- They are able to deliver within the short timeframe for the programme
- the experience and capability of the project sponsor
- an ability to identify and manage risks effectively
- value for money and that the project can’t be funded elsewhere
- that UK Government subsidy control regulations can be complied with
- that delivery will take account of equality duties, the Welsh language and environmental good practice
- a contribution to meeting the strategic needs of the area as set out in the Council Plan, Wellbeing Plan and other relevant strategies
You can apply for funding for both capital and revenue expenditure. Capital expenditure refers to funding used to get, build or upgrade physical assets. Revenue expenditure refers to ongoing organisational costs needed to run the project activities set out in an approved application. For example:
- staff costs (including salary, national insurance, and pension)
- costs of project-related travel and subsistence
- costs of materials
- marketing and publicity costs
- training participant costs e.g. travel expenses, childcare
Projects will need to make sure they work with SPF interventions, outputs, and outcomes for Wales:
How to get involved
We have created a selection of grants to make funding available to local communities and businesses.
Find out
how to get involved.
