Dan Peters 25 November 2020

Spending Review: UKSPF to reach £1.5bn a year

Spending Review: UKSPF to reach £1.5bn a year image

The value of the UK Shared Prosperity Fund (UKSPF) will reach around £1.5bn a year on average, chancellor Rishi Sunak has announced.

Documents released alongside the Spending Review said the total domestic UK-wide value of the UKSPF would eventually ‘at least match current EU receipts’.

A portion of the UKSPF will target places most in need across the UK, such as ex-industrial areas, deprived towns and rural and coastal communities.

However, the exact profile of the UKSPF will not be determined until the next Spending Review, with the Government providing £220m of UK-wide funding to help local areas prepare over 2021/22 for its introduction.

Mr Sunak said: ‘The whole of the United Kingdom will benefit from the UKSPF and over time we will ramp up funding so that total domestic UK-wide funding will at least match EU receipts, on average reaching around £1.5bn a year.’

Time for a council tax precept to fund CCTV image

Time for a council tax precept to fund CCTV

The crisis in funding for CCTV systems is not being addressed by the government or the police and is leading to the curtailment of this vital service in local authorities across the country. How can we ensure that communities that want this service continue to receive it, asks Tom Reeve.
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