Agenda item - UK Shared Prosperity Fund Programme 2025/26

The report of the Director – Development and Economic Growth is attached.

It was RESOLVED that:

a) UKSPF activity delivered in 2024/25 be recognised;

b) the proposals for UKSPF in 2025/26 be endorsed;

c) sign-off of refinements to proposals for 2024/25 be delegated to the Chief Executive, in consultation with the Leader and S151 Officer, with both revenue and capital implications reported in future financial reports to Cabinet and the Medium Term Financial Strategy to Full Council;

d) the proposals as outlined in the report for UKSPF grant pots be supported; and

e) sign off of grant awards and reallocation of grant funding between priorities (Business Support and Communities and Place) for UKSPF and REPF be delegated to the S151 Officer and Director – Development and Economic Growth, in consultation with the Cabinet Portfolio Holder for Business and Growth, following officer recommendations based on assessment of applications and moderation.

The Cabinet Portfolio Holder for Business and Growth, Councillor Brennan, presented the report of the Director – Development and Economic Growth, which detailed the UK Shared Prosperity Fund Programme for 2025/26.

Councillor Brennan stated that she was delighted to bring an update on the delivery of the previous allocation of UKSPF and Rural England Prosperity Funding (REPF), and to confirm the further allocation of UKSPF funding for 2025/26. She advised that the new allocation was slightly reduced, with the funds now channelled through the East Midlands Combined County Authority (EMCCA), which would be taking some funding for regional-wide initiatives, as detailed in Paragraph 4.13 of the report. The new allocation was just over £1m, and Councillor Brennan stated that the Government had now confirmed that REPF would continue.

Cabinet noted that the report set out plans for both direct delivery and commissioning for the next year. The outputs from last year’s allocation were listed in Paragraph 4.2 and Appendix A, and she stated that it had been an extremely popular fund, with both strategically commissioned projects and grant pots, which had allowed local groups to bring projects forward. There had been a few changes to the allowed interventions, highlighted in the Table at 4.7, and the three themes, together with details of proposed strategically commissioned projects were listed in the Table at 4.9. The list was intended to provide a balance and had to deliver Government outputs, which had to be reported to EMCCA. Councillor Brennan confirmed that £200k had been allocated to businesses and £200k for communities as grant pots and were detailed in the Table at 4.15. She also confirmed that the very popular High Street Grant Scheme would continue and reminded Cabinet that this was match funded. Grants schemes were available for Community and Place, Community Wellbeing and Business Support Grants, and subject to Cabinet approval, those schemes would be launched on 12 March. Councillor Brennan confirmed that as UKSPF could not roll over, it was vital that all projects were deliverable within the timescales.

In seconding the recommendation, Councillor Inglis was pleased that further funding would be available and referred to Paragraph 4.2, which outlined the wide range of community enhancements that had been delivered and thanked the Head of Economic Growth and Property and her team for their hard work in delivering this scheme. He felt that the new allocation would again directly benefit residents and businesses, and fully endorsed the projects outlined in Paragraph 4.9.

Councillor J Wheeler welcomed the report and referred to the real difference the funding had made but expressed disappointment that EMCCA had chosen to take some funding and hoped in future that this would not happen.

The Leader agreed that the funding had been extremely successful and the positive outcomes could be seen, including across high streets around the Borough and he knew that this support was welcomed.