After the UK leaves the European Union it will lose access to £2.4 billion a year in funding from European Structural and Investment Funds (ESIF), including associated match funding, which currently provides significant investment to local projects in slower-growing regions across the country.
The Government has committed to creating a new fund post-Brexit, which has been named as the UK Shared Prosperity Fund (UKSPF), but there is still little detail on how this fund will work in practice.
Joseph Rowntree Foundation (JRF) has now launched a new report, ‘Designing a Shared Prosperity Fund’, which presents on its research on how the UKSPF can invest in places which have been left behind and put inclusive growth into practice.
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