Warwickshire’s allocation of UK Shared Prosperity Funding (UKSPF) for 2025-26 has been approved, supporting local communities, businesses, people and skills.
The Ministry for Housing, Communities and Local Government (MHCLG) confirmed that Warwickshire will receive £5.27 million in 2025-26 made up of £0.97 million capital and £4.3 million revenue and that responsibility for the planning and delivery of UKSPF will move to the County Council from April 2025 as part of the new Devolution Deal for Warwickshire.
The UK Shared Prosperity Fund has three investment priorities. These are; communities and place which will support high street and town centre initiatives, supporting local businesses through programmes of business support, and developing people and skills through training and education programmes. The funding is used to deliver against these priorities, supporting local skills and economic development with a range of support services and programmes to help businesses and their employees.
The UKSPF is expected to be worth £11.1 million to Warwickshire in 2024/25; made up of £10.2 million of core UKSPF allocated to the District and Borough Councils and £0.88 million of Multiply funding for adult numeracy allocated to WCC.
The October Budget confirmed that UKSPF will continue at a reduced level for a further year as part of a transitional arrangement to allow combined and local authorities to invest in local growth in advance of wider funding reforms.
Warwickshire County Council’s Cabinet has agreed on the use of the 2025-26 allocation which has been considered in two stages; first of all, the use across the three investment priorities and then, secondly, how the available budget is used to deliver specific priorities under each investment priority.
Councillor Martin Watson, portfolio holder for Economy at Warwickshire County Council, said: “We are pleased to agree the proposed use of Warwickshire’s UKSPF funding.
“Although this year’s allocation is a reduction, we have set out a balanced approach to the delivery and have split the funding to support the three investment priorities. At the core of the allocation is a commitment to an equitable spread of funding across the county, creating improved economic opportunities for all of our residents.
“We are keen to support local communities and have also agreed an allocation for each of Warwickshire’s District and Borough Councils. Officers at the six local authorities are working closely to plan the delivery of UKSPF next year.
“The allocations by investment priority are also set out against the other Government investment programmes, for example, WorkWell and Connect to Work, in order to maximise the funding available to support the Local Business and Communities and Place priorities.”
The County Council is now able to extend the Business Growth Warwickshire business support programmes and a range of Warwickshire Skills Hub programmes thanks to the continuation of UKSPF funding for another year. This will maintain continuity of support for both businesses and residents.
The District and Borough Councils meanwhile will be leading on the delivery of the large majority of Communities and Place activities. More information on their plans will be available shortly. The County Council will also be commissioning some additional activities at the local level.
To view the Cabinet paper, visit: UKSPF Transition Year 2025-2026