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UK Shared Prosperity Fund

Asked by Helen MorganLiberal DemocratMinistry of Housing, Communities and Local GovernmentTabled Answered 27 October 2025UIN 84368

The question

To ask the Secretary of State for Housing, Communities and Local Government, what steps he is taking to ensure that projects funded by the UK Shared Prosperity Fund will continue to receive support when that programme ends.

Answered by Miatta Fahnbulleh

The government is providing targeted, long-term local growth funding to support regional growth across the UK, completing the transition from the UK Shared Prosperity Fund.

This includes establishing a new local growth fund, for specific mayoral city regions in the North and Midlands; providing financial investments to capitalise a new recyclable mayoral growth fund for mayors in the North and Midlands with an integrated settlement; and launching the Pride in Place Programme, which represents one of the largest investments in deprived neighbourhoods for a generation - up to £5 billion over 10 years to support up to 250 places.

This is in addition to increases in council’s Core Spending Power and the upcoming reforms to the Local Government Finance Settlement (LGFS) moving to a more up-to-date assessment of each council’s needs and multi-year allocations.

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