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As part of the Autumn Budget 2024, the UK Government announced another round of funding for the UK Shared Prosperity Fund (UKSPF), to be allocated for the years 2025-2026. The fund has already been running from April 2022, with the aim of ‘levelling up’ the country and developing local infrastructure to make areas more appealing and affluent.
This is part of the UKSPF’s attempt to improve the prosperity and quality of life for towns and their residents, especially in those areas that are most deprived. With a multi-pronged approach, the fund invests in various improvements to public spaces and services, in addition to projects that grow the private sector an boost local opportunities.
So far, the fund has allocated over £2.6 billion to communities up and down the country, with every region in the UK receiving some level of funding. While the total sum will be reduced to £900 million in 2025-26, down from £1.5 billion in 2023-24, there’s still plenty of resources that are being made available to local authorities.
So, who will receive these funds and how best are they used? What projects can be undertaken to align with the aims of the UKSPF, and what is most likely to receive funding? These are the questions we’ll be answering in this blog post.
Who Will Receive The Funding?
The funding will be shared out between all local authorities in England, Scotland, Wales, and Northern Island. Even the smallest areas will receive a significant share, totalling £1 million each at the end of the scheme. In a similar way, while the fund places an important focus on deprived areas, more affluent locations will also see investment.
Most of the fund (~60%) will be allocated on a per-capita basis, while the remainder will be allocated according to each area’s need. The productivity, household income, and volume of skilled workers will all be considered when assessing a location’s need, and these factors will therefore impact an area’s share of funding.
Lead local authorities are being given the responsibility for developing an investment plan, which can then be approved by the government. They will also possess responsibility for managing and delivering the funds, while maintaining some flexibility over the scale of each intervention.
How Will The Funding Be Allocated?
In general, the funding will be allocated to projects and local partners that can increase pride in place. Improving people’s satisfaction with town centres and public services is key to this, as is improving engagement in the local community.
The UKSPF outlines three main priorities that will help select who receives the funding – Community & Place, Local Business, and People & Skills:
Community & Place - Health and wellbeing is a major focus of the UKSPF. Any projects that can improve Healthy Life Expectancy (HLE) and general wellbeing, such as active travel schemes or green spaces, are likely to receive funding. Additionally, any projects that reduce serious crime, such as CCTV installations or neighbourhood watch schemes, might also benefit.
Support Local Business - The UKSPF aims to increase pay, employment, and productivity across the entire country, and ensure each region contains a globally competitive city. Public investment in Research & Development should also increase, helping develop long-term growth and stability. Naturally, projects that support these aims, such as modernised infrastructure and cleaner streets to boost the local economy, are likely to receive funding.
People & Skills - By 2030, the UKSPF hopes to increase skills training significantly, resulting in 200,000 more people receiving high-quality qualifications every year. Much of this workforce will come from lower skilled areas, helping uplift disadvantaged communities. Projects that improve accessibility, such as town centre upgrades, and invest in neglected areas, like renewals of local amenities, are therefore well-positioned to receive funding.
What Projects Should Local Councils Consider?
If looking to improve pride of place and invest in the local community, there are no shortage of interventions that would prove beneficial. Examples to consider include:
E1 - Funding for improvements to town centres and high streets, including better accessibility for disabled people, including capital spend and running costs.
E2 - Funding for new, or improvements to existing, community and neighbourhood infrastructure projects.
E3 - Creation of and improvements to local green spaces, community gardens, watercourses and embankments, along with incorporating natural features into wider public spaces.
E7 - Support for active travel enhancements in the local area.
Accessibility Schemes
To complete an E1 intervention, local councils should consider the accessibility and usability of their urban spaces.
Improving public transport, such as instituting safe and effective bus lanes, can allow those with limited mobility to access town centres much more freely and easily. It’s important to consider the impact on traffic, however, and install road safety measures such as bollards, signage, and delineator posts to properly demark any bus lanes from general road traffic.
Alternatively, councils could focus on providing more seating in busy pedestrian areas. Wheels For Wellbeing recommend placing benches no further than 50 metres apart from each other in such locations, providing adequate seating for those who would otherwise struggle. This improves access to urban centres for many, encouraging a greater degree of economic involvement and prosperity.
Upgraded Infrastructure
As for an E2 intervention, there are several routes local authorities could take with their funding.
Councils might commission infrastructure upgrades, transforming their old and derelict town squares into modern, sleek commercial centres. This would not only improve the satisfaction of local residents, but also attract tourism and visitors from neighbouring towns. Of course, upon completion, it would be essential to keep the new infrastructure appealing, so investment in litter and recycling bins would be crucial to aid waste disposal and prevent rubbish piling up.
Local authorities could also invest in better road networks, upgrading any carriageways that have become too old or in disrepair. A key part of that is improving road safety, with road safety products and signage installations playing an important role in reducing collisions and improving travel flow.
Local Amenities
E3 interventions primarily concern greenery and local parks, whether it be the creation, improvement, or integration of these spaces.
Not only do natural surroundings have a positive effect on mental health, but they allow residents to exercise – whether it be a relaxing stroll through the park or a brisk jog across the football field. Given the many benefits of a well maintained park space, investment into benches, litter bins, dog waste bins, and children’s playground furnishings can be instrumental to creating a healthy and successful community park.
Other amenities like sports centres and swimming pools offer similar benefits, with the overall effect of improving health outcomes, increasing neighbourhood appeal, elevating value, and bringing prosperity to the town.
Active Travel Schemes
For an E7 intervention, councils might consider implementing support for active travel schemes. That could take the form of cycle stands and shelters in busy areas to provide storage space for active travellers. Or, it might consist of dedicated cycle lane infrastructure to encourage healthy and environmentally friendly travel around urban centres.
How Glasdon Can Assist
We offer a full complement of products to elevate your public space and bring your town’s investment plan in line with the UKSPF’s aims.
Rebound Signmaster™ Ultra 50 Bollard
For a passively safe road traffic bollard, the Rebound Signmaster range offers the ideal solution. Durable and rigid, the Rebound Signmaster Ultra 50 bollard features high-grade retroreflective patches to ensure maximum visibility, and front-facing signage for traffic direction.
Compliant to BS 8442:2022 standards and crash tested to 100 kph, the Rebound Signmaster Ultra 50 offers optimal safety for drivers while requiring minimal maintenance and installation from highway workers.
For more information on Making Best Use Of The Shared Prosperity Fund talk to Glasdon UK Limited