Council bosses have urged the Government to extend the ‘vital’ UK Shared Prosperity Fund (UKSPF) in the upcoming Autumn Budget.
The fund, established as a replacement for EU regional funding, is due to run out next March.
This willl leave councils facing a ‘cliff edge’, according to the Local Government Association (LGA), which has urged the Government to provide an extra year's funding.
The LGA warned that the deadline was starting to impact the delivery of locally led schemes like regenerating high streets, skills training and creating jobs.
In its submission to the Treasury, the LGA also said councils needed clarity on the third round of the Levelling Up Fund so they could progress schemes.
The chairman of the LGA’s people and places board, Martin Tett, said: ‘Boosting inclusive local growth is the key to tackling some of our persistent economic and skills challenges, be it in improving high streets, connectivity and mobile infrastructure, or investment in people and businesses.
‘The Government should use the upcoming Budget to provide stability and certainty to councils and local businesses, who want to invest in communities, by providing an extra year of fully flexible, additional funding for UKSPF.’
