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UK Shared Prosperity Fund

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1. About the UK Shared Prosperity Fund

The UK Shared Prosperity Fund (UKSPF) is providing £2.6 billion of funding for local investment by March 2025. The fund aims to improve pride in place and increase life chances across the UK investing in communities and place, supporting local business, people and skills.

An allocated £1.6 million has been awarded to us to invest in local projects until March 2025. An investment plan was submitted to the government which supports local business, communities and local people through the five projects below, this was approved at full council in July 2022.

Following approval of Teignbridge's Rural England Prosperity Fund addendum, an additional £650,332 from the Government's Rural England Prosperity Fund (Rural Fund) has been allocated to Teignbridge to be invested in rural projects. A top up to the UKSPF, this funding is to improve productivity and strengthen the rural economy and rural communities. This addendum was approved by full council in November 2022.

When this content has been updated

Last updated 30 April 2024