UK Shared Prosperity Fund definition

UK Shared Prosperity Fund means the UK government fund as described in the UK government’s Prospectus; VAT means value added tax chargeable in the UK; Working Day means in England, any day from Monday to Friday (inclusive) which is not specified or proclaimed as a bank holiday in England pursuant to section 1 of the Banking and Financial Dealings Act 1971 including Christmas Day and Good Friday.
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UK Shared Prosperity Fund. Means the provision of £2.6bn of funding for local investment by March 2025. UK Shared Prosperity Fund: prospectus - XXX.XX (xxx.xxx.xx)
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UK Shared Prosperity Fund. (UKSPF); means the funding provided by DLUHC.
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Examples of UK Shared Prosperity Fund in a sentence

  • There is unanimity among the contributors to the Inquiry that the UK Shared Prosperity Fund should operate on the basis of multi-annual financial allocations.

  • There is however a widely held fear that the inclusion of the Local Growth Fund (or any other existing budget line) within the UK Shared Prosperity Fund might lead to a reduction in the totality of funding.

  • We also recommend that, within the framework of the agreed guidelines, the UK government should transfer responsibility for the detailed design and delivery of the relevant parts of the UK Shared Prosperity Fund to the devolved administrations and their partners.

  • The Conservative manifesto defined the purpose of the UK Shared Prosperity Fund as being to “reduce inequalities between communities across our four nations”.

  • These seem in principle to be special cases, tied directly to the consequences of Brexit, that the UK government ought to address, though not necessarily through the UK Shared Prosperity Fund.

  • Contributors argue strongly that a ‘one size fit all’ approach to the UK Shared Prosperity Fund would be wrong because needs and opportunities vary such a great deal across the country.

  • We recommend that local partners are given flexibility to define the types of projects on which the UK Shared Prosperity Fund is spent, so long as the activities remain consistent with the wider objectives of the Fund.

  • Added to this, there are substantial administrative attractions in disentangling the four nations’ components of the UK Shared Prosperity Fund if in England the objectives and financing were to be complicated by rolling in other Westminster budget lines.

  • There has been discussion of the possibility of rolling in some of these other budget lines into the UK Shared Prosperity Fund.

  • We recommend that the management structures for the UK Shared Prosperity Fund make greater efforts to engage local authorities.


More Definitions of UK Shared Prosperity Fund

UK Shared Prosperity Fund means the UK government fund as described in the UK government’s Prospectus. VAT means value added tax chargeable in the UK.
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