The UK Shared Prosperity Fund (UKSPF) is a fundamental component of the UK Government's ambitious Levelling Up agenda. The fund allocates resources to all areas of the UK through a funding formula. It will help places right across the country deliver enhanced outcomes and recognises that even the most affluent parts of the UK contain pockets of deprivation and need support.
Greater Manchester Combined Authority (GMCA) is the lead authority for the UK Shared Prosperity Fund (UKSPF). It has overall accountability for how the fund is administered in the city region.
GMCA has outlined three main phases for the UKSPF implementation in Greater Manchester:
- Investment Plan Development and Submission to UK Government
- Implementation Plan Development
By participating in the UKSPF, Greater Manchester aims to harness the opportunities presented by the fund to address economic disparities, uplift communities, and foster sustainable growth throughout the city region.
The infographic below outlines how the funding in Greater Manchester has been allocated: