The UK Shared Prosperity Fund is the government’s pledge to replace the European Structural Investment Funds (ESIF) after we leave the EU. ESIF can be allocated to any region across the EU, but aims to promote social and economic development in the areas that need them most. It is estimated that the UK was allocated €16 billion (about £14 billion) for the period 2014-2020, so this is a big deal for some areas of the UK.
The policy we’re tracking here isn’t just about creating the UK Shared Prosperity Fund (that’s this policy), it’s about ensuring it is “targeted where it is needed most”. That’s potentially difficult to measure, so we’ll be looking at responses from parties involved in the design of the fund, and getting feedback directly from independent bodies.