UKSPF principles and approach
Principles
The plan will seek to identify and prioritise key areas for investment to deliver the most significant impact to the region’s businesses and residents. Each of the themes will reflect existing regional and local plans or evidence bases.
UKSPF should be used to support those areas where there is limited or no investment elsewhere.
Where possible, we are looking to maximise leverage from funding e.g., businesses supported should commit to wider employment and training outputs, to maximise benefits to communities.
Local Authorities and other partners will play a key strategic role in developing the investment plan, identifying key priorities and ensuring a fair funding distribution that delivers maximum impact for all.
Proposed approach to allocations
A significant proportion of funds will be used for the ‘supporting local businesses’ strand, in recognition that UKSPF is the main source of funding for this type of activity. Interventions will be determined by the outcomes of the business support review. A combination of locally and regionally delivered activity.
Funding for locally delivered employment support will also be prioritised (note funding not available until 24/25).
Communities and Place: priorities to be determined by local authorities in partnership with local stakeholders.
Skills activity will predominantly be delivered through other funds, and Multiply.