UK Shared Prosperity Fund

Overview

The UK Shared Prosperity Fund (UKSPF) was launched in April 2022 and provides £2.6 billion in funding for local investment by March 2025.

The Fund supports the ambitions of the Levelling Up White Paper and aims to build pride in place and increase life chances across the country.

Castle Point Borough Council has been allocated £1m for local levelling up projects.

Investment priorities

After consultation with a wide range of community stakeholders in line with UKSPF guidance, the Council has prioritised ten UKSPF interventions in its Investment Plan, which was submitted in September 2022 and approved by government in December 2022. The interventions focus on support for communities, businesses and skills development and these are being delivered through a combination of: grants to public or private organisations; commissioning third party organisations; procurement of service provision; and in-house provision.

What is the UK shared prosperity fund grant programme?

The Council has launched a grant programme allowing organisations to apply for funding towards:

• Investment Priority E11:  investment in capacity building and infrastructure support for local civil society and community groups.

The programme will cover the following period: October 2023 -March 2025.

(Note: projects will need to work to financial year annual budgets)

The Council’s UK Shared Prosperity Fund Grant Programme is offering grants of:

• Revenue only applications:  between £2500 and £5000
• Capital only or Capital and Revenue applications: between £2500 and £7,500

(An expenditure becomes capital when the total is £10,000 or over and when it is related to  building work, including major repairs to the fabric of the building - but not solely replacement fittings/making good - and large items of equipment.)

For each project a minimum of 25% match funding is required (in-kind costs and volunteer time are not eligible as match funding).  Please note the split available in total between capital and revenue and apply accordingly.

This funding can be used for projects and activities that are delivered between 1 October 2023 and 31 March 2025.