UK Shared Prosperity Fund

The UK Shared Prosperity Fund (UKSPF) was a central pillar of the UK Government’s Levelling Up agenda and provided £2.6 billion of funding for local investment up to March 2025.

The Fund aimed to improve pride in place and increase life chances across the UK by investing in communities and place, supporting local businesses, and providing opportunities to boost people and skills.

UKSPF replaced the European Structural and Investment Funds (ESIF), such as the European Regional Development Fund (ERDF) and the European Social Fund (ESF). These funds previously supported job creation, skills programmes, innovation and carbon reduction in the city-region.