Regional funding after Brexit – Opportunities for the UK’s Shared Prosperity Fund

Many third sector organisations will currently be wondering what is next for regional funding post-Brexit and, crucially, how any future funding via the ‘UK Shared Prosperity Fund’ (SPF) will be allocated to regions across the UK.

European structural and investment funds (ESIF) currently provide significant investment to local projects right across the UK, with the largest amounts allocated to regions outside of the capital, helping to target regional inequalities.

The Institute for Public Policy Research (IPPR) has now released a forward-thinking new briefing paper which aims to outline three challenges facing the UK: regional inequality; centralisation of power; and a lack of community voice, andadvocates for a well-designed replacement for EU structural funding.

IPPR also offers its recommendations of how the Shared Prosperity Fund could effectively tackle these problems and address the regional inequality of the UK’s current economic landscape.

The report says, ‘Despite the uncertainty, leaving the European Union also brings an opportunity: a chance to redesign regional funding and create sustainable and inclusive regional economies.’

The paper also calls for the new fund to advance the voluntary sector and the efficiency of public services. You can download the full briefing paper by clicking here.

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