£1m Investment Plan Approved for the District
Published on Tuesday, 13th December 2022
Maldon District Council has received confirmation that the District’s £1m investment plan for the UK Shared Prosperity Fund (UKSPF) has been approved.
The Fund targets three investment themes of ‘Community and Place’, ‘Supporting Local Business’ and ‘People and Skills’.
The allocation for the Maldon District will fund projects over the next three years, aligned to the three investment themes of the UKSPF. The District's allocation will be spilt as follows
- £59,020 in 2022/2023
- £118,038 in 2023/2024
- £822,942 in 2024/2025
The UKSPF is a government allocated fund which is intended to reduce inequalities between communities, as part of the Government’s “Levelling Up” agenda.
The Maldon District will also receive an additional allocation of £430,328 from the Rural England Prosperity Fund, which is a rural specific top up to the UKSPF. The outcome of this fund is expected in January 2023.
Leader of Maldon District Council, Councillor Penny Channer, said “I am delighted that the Maldon District’s UKSPF investment plan has been approved.
“The funding will give the Council an opportunity to deliver a range of projects across the District for the benefit of our residents, visitors, and businesses alike. We look forward to sharing further details about these projects in the new year.”
Notes to Editors:
The UK Shared Prosperity Fund is a central pillar of the UK government’s Levelling Up agenda and provides £2.6 billion of funding for local investment by March 2025.
The Fund aims to improve pride in place and increase life chances across the UK, investing in communities and place, supporting local business, and people and skills.
For more information, visit https://www.gov.uk/government/publications/uk-shared-prosperity-fund-prospectus
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