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Cyngor Sir Ynys Môn - Isle of Anglesey County Council

UK Shared Prosperity Fund (SPF)

Isle of Anglesey County Council welcomes the UK Government’s announcement on 5 December 2022 that the North Wales Regional Investment plan for the Shared Prosperity Fund has been approved.

We look forward to opening the application process once we receive formal notice of the funding decision and grant agreement.

The Regional Investment Plan was submitted to the UK Government on 1 August 2022. Since then, the six local authorities in North Wales have been working hard to make preparations for managing the fund on the assumption that the plan would be accepted.

It should be noted, however, that details of how the Shared Prosperity Fund will be provided have remained uncertain. Consequently, Isle of Anglesey County Council - in line with its neighbouring North Wales local authorities - will only be able to progress applications once the required details have been received and considered.

We hope to launch Anglesey’s Shared Prosperity Fund as soon as practicably possible, but know that will be early 2023 at the earliest.

Meanwhile, the following information will be of interest to potential applicants (and is consistent across North Wales):

  • We are committed to the principle of local decision making.
  • North Wales is seeking to have a 2-stage process so applicants can get an early sense of whether their proposal is likely to be supported.
  • Flexibility will be built in, to facilitate projects looking to deliver in one local authority (LA), every LA in North Wales, or a combination of LAs.
  • We anticipate that UKSPF applications will be generally be larger in scale (that is, with a value of over £250k). All local areas are looking to establish intermediary funds to support smaller projects by communities and businesses.
  • We will need to commit funds early in the programme as time for delivery is short (by March 2025).
  • Current advice for potential applicants is to not simply wait for the systems and structures to be in place. Groundwork can be done now, and there is nothing to preclude starting to engage with partners and stakeholders about potential activities to ensure they are well developed and have broad support when the time comes.
  • All potential applicants are encouraged to review the interventions list published by UK Government, along with their associated outputs and outcomes.