Today, the UK Government has launched the UK Shared Prosperity Fund.
Wales will be the largest beneficiary, receiving £585 million over the next three years! South West Wales itself will receive an additional £138 million from the UK Government.
The funding delivers on the UK Government’s commitment to match the previous EU funding. However, this fund will be more flexible and led locally. This frees our communities from the bureaucratic and rigid processes of the EU Structural Funds.
By empowering local communities, the Shared Prosperity Fund will enable local leaders to make the best decisions for their local area.
This funding will guarantee investment is distributed across Wales, ensuring every corner of the United Kingdom can level up.
