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UK Shared Prosperity Fund

On 13 April 2022, the government published more detail about how the UK Shared Prosperity Fund (UKSPF) will work, this replaces funding which the council originally received from Europe.

Gateshead Council has been allocated a total of £12.8 million to invest over three years. This is broken down into £11.6 million of core funding and £1.1 million for the national 'Multiply' programme.

We now have the opportunity to accelerate our plans for the fund, and build on our existing priorities to deliver Thrive and Health and Wellbeing Strategy. We will develop an investment plan to deliver fair employment and good work for all, and create and develop sustainable places and communities that we can be proud of.

The investment plan will be submitted to government by 1 August 2022.

The plan will take account of the three themes of the fund as set out by Government:

  • Communities and place
  • Local businesses
  • People and skills

In developing the plan, we will be mindful of the fund's objectives set by government:

  • Boost productivity, pay, jobs and living standards
  • Spread opportunities and improve public services
  • Restore a sense of community, local pride and belonging
  • Empower local leaders and communities

To develop our local investment plan, we will work in partnership with councillors, MPs and local stakeholders including businesses and residents.

Wider region

The investment plan whilst written at a Gateshead delivery level will also be aligned with a regional investment plan to show how we are working with neighbouring authorities - South Tyneside, Durham, Sunderland and North of Tyne Combined Authority - to share learning and best practice and identify areas for collaboration where greater benefits for residents may be delivered better across a wider geography.

Briefing and consultation

Details of the briefing date and consultation plan with local stakeholders will be published in the near future.

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