Funding from the Government’s UK Shared Prosperity Fund has been officially approved.
East Suffolk Council has been allocated £2.75m from the UK Shared Prosperity Fund (UKSPF) which will be used to support high streets, local businesses, workforce and community skills development, as well as support for those struggling with the cost of living crisis.
In April 2022, the Government launched the UKSPF to support its Levelling Up agenda. The primary goal of the UKSPF is to build pride in place and increase life chances across the UK, focusing on communities and place, supporting local business, people and skills.
Following approval of an Investment Plan detailing to Government how the funding would be spent, East Suffolk Council has been allocated £2.75m to invest across two and a half years (2022/23 - 2024/25) in initiatives that will address inequality and contribute to levelling up.
Additionally, East Suffolk Council has also been allocated a further £1.129m from the Government under the Rural England Prosperity Fund (REPF), which is part of the UKSPF and aims to support small business and community infrastructure in rural areas. Final approval for this element of funding is expected in the new year, with funded programmes to commence in April 2023.
Cllr Craig Rivett, East Suffolk’s Deputy Leader and cabinet member for Economic Development said: “We are pleased to have received final Government approval for this funding which will enable us to provide an extensive support programme for local businesses, as well as increasing opportunities for skills development and training to those most in need.”
As well as assisting local businesses and high streets, the funding will also support residents who are struggling with rising food and energy costs.
The East Suffolk Investment Plan contains a number of key programmes, based on new and existing schemes to be delivered either locally or collaboratively with other local authorities in Suffolk. These programmes are:
All programmes are expected to be completed by 31 March 2025.