Shared Prosperity Fund Consultation

UK Shared Prosperity Fund (SPF) Consultation 

Background on UKSPF

As part of the government's levelling up agenda it was announced in the autumn 2021 budget that a Shared Prosperity Fund would be set up, totalling £2.6bn, starting in 22/23 with £0.4bn, 23/24 with £0.7bn and 24/25 with £1.5bn. The Government commitment that all local authorities would receive a share of the fund was honoured, although many authorities were only allocated the minimum baseline of £1m over the 3 years. Surrey County Council received the minimum baseline for a county of £4.3m.

Spelthorne SPF Allocation

In line with the other Surrey local authorities, Spelthorne was allocated £1m over the 3-year period.  Our allocation is set out below:

 

22/23

23/24

2425

Total

Allocation

£150,000

£270,000

£580,000

£1,000,000

 

UKSPF Investment Plan Development

UKSPF has been allocated across three headline priorities:

  1. Community & Place
  2. Business Support 
  3. People & Skills

Local Authorities have the flexibility to select projects that reflect the various strategies, policies, needs and priorities of a local area. For Spelthorne, the £1m allocation has meant we have had a look at those projects that can make a real difference to our communities.

The selected projects to receive UKSPF funding must be developed into an ‘Investment Plan’ and submitted to government by              1 August 2022. A ‘Local Partnership Group’ made up of local stakeholders and partners, including local Members of Parliament, should be engaged with on the development of this Investment Plan including the projects selected for investment from the fund. This consultation is that stage of stakeholder engagement.

It is currently anticipated that government will approve our UKSPF plan by October with the first tranche of monies being released immediately afterwards. www.gov.uk/government/publications/uk-shared-prosperity-fund-prospectus

Process so far

An initial report went to the Economic Development Committee on 9 June setting out details of the fund, and recommended a cross committee task group be set up to consider and assess bid applications.

Agenda for Economic Development Committee on Thursday, 9 June 2022, 7.00 pm - Spelthorne Borough Council (item 26/22)

Services across the Council were given a short window within which to put forward formal applications for consideration by the task group.

This task group has met three times in quick succession to consider the applications submitted, undertake a scorecard analysis, ask questions regarding the bids and make decisions on re-profiling of bids to ensure the investment requirements are aligned with the spend profile. As part of the process, the task group ensured that all the projects would meet the government criteria, aligned with our Corporate Plan priorities and would help meet local need.

A list of projects were put forward by the task group to the Corporate Policy and Resources Committee on 11 July, which were agreed.

Agenda for Corporate Policy and Resources Committee on Monday, 11 July 2022, 7.00 pm - Spelthorne Borough Council (item 6)

These projects will secure sufficient funding to deliver real outcomes for our communities. The eight proposed projects are:

  1. Youth Hub
  2. Bounce Back Street
  3. Business growth plans and innovation grants
  4. Urban garden and food growth
  5. Climate change audit for businesses
  6. Upskill communities to access grants
  7. Cultural kick starter - Oast House consortium
  8. Cultural kick starter - community hub

For more details, please see consultation document named ‘SPF proposed projects’. All but one of these projects will be delivered in partnership with other organisations – whether with business, registered providers, other councils, community groups or voluntary organisations.

Examples include Runnymede Borough Council on business growth plans, VSNS on upskilling communities to access grants, and Royal Holloway and Pinewood Studios on the community hub.

Local Partner and Stakeholder Engagement

The Council only has a short window in which to finalise its Investment Plan and submit to government (by 1 August). We hope that you as a key local partner and stakeholder have had the opportunity to review our proposed projects to support the local community facilities and support our local businesses.

Please take the time to complete this very short survey (3 minutes max) to indicate whether you support these projects. We are particularly interested to hear from those who might be interested in accessing funding (should it be agreed) or wish to express an interest to the Council in assisting with delivering these projects.

The deadline to complete this survey is Monday 25 July. 

Timeline

  • Opened
    14 Jul 2022 at 00:00
  • Closed
    25 Jul 2022 at 23:59