£2.6 billion of levelling up funding will be awarded to communities across the UK through the UK Shared Prosperity Fund (‘UKSPF’), the Government has announced.
The UKSPF invests in local communities by helping to regenerate high streets, tackle economic decline, and reverse geographical inequalities – with areas in greater need receiving more support. The funding is part of the Government’s mission to level up the UK, by ensuring that where an individual is born does not determine the success and opportunities afforded to them.
Greg Smith MP has welcomed the news that as part of this spending, £7,938,237 has been awarded to Buckinghamshire.
This money will be given to locally elected authorities and leaders who best know what their communities need – helping to slash bureaucracy and support communities in seizing new opportunities.
The spending confirms that the Conservative Government has fulfilled its commitment to match previous EU funding on social and regional development.
Commenting, Greg said: “I am incredibly proud of everywhere across Buckingham constituency and know that our best days lie ahead. I am determined to work with the Government to ensure that everyone from our area is able to reach their full potential.
“That is why I welcome the spending of £7,938,237 for Buckinghamshire, which can be used across a range of projects from supporting adults who lack basic numeracy skills, helping young people into good jobs, and regenerating our high streets.
“This spending will help to local residents to fulfil their potential, while reducing regional inequalities that have been left untouched for too long”.
Commenting, Levelling Up Secretary Michael Gove said: “We have taken back control of our money from the EU and we are empowering local communities to deliver on their priorities, rather than unelected bureaucrats in Brussels.
“The UK Shared Prosperity Fund will help to unleash the creativity and talent of communities that have for too long been overlooked and undervalued.
“By targeting this funding at areas of the country that need it the most, we will help spread opportunity and level up in every part of the United Kingdom.”
