What is the UK Shared Prosperity Fund (UKSPF)?
The UK Shared Prosperity Fund 2025-2026 (UKSPF) is a national Fund focused on pushing power out to communities, helping to kickstart economic growth, and promoting opportunities in all parts of the UK.
The UK government’s Autumn Budget (2024) announced a further £900 million of UKSPF investment. York and North Yorkshire Combined Authority is accountable for an allocation of £8,782,899 up to March 2026. This allocation is made up of £2,914,393 Capital funding (a minimum requirement) and £5,868,506 of Revenue funding (a maximum limit).
Following a further announcement, York and North Yorkshire Combined Authority will also receive an allocation of £1,748,017 from the Rural England Prosperity Fund 2025-2026. This national Fund is intended to strengthen rural communities and the rural economy in eligible areas. This is Capital funding only (to be spent on lasting assets such as buildings or equipment) and must also be delivered by March 2026.
UKSPF 2025-2026 follows UKSPF 2022-2025 which was delivered in our region by North Yorkshire Council and City of York Council. The successes of previous programmes, alongside engagement with Local Authority partners and other stakeholders, have informed the development of our programmes and opportunities.
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What are the objectives of the UKSPF?
York and North Yorkshire Combined Authority has the flexibility to determine how the funding allocation is divided between the UKSPF Priorities and Themes below. Further information is available here.
Communities and Place
- Healthy, Safe and Inclusive Communities
- Thriving Places
Support for Local Businesses
- Support for Business
People and Skills
- Employability
- Skills
A series of programmes are being developed to deliver against these priorities whilst addressing the local challenges and opportunities in the York and North Yorkshire region.
Under the Communities and Place priority, programmes will support projects that bring communities together through enhancing the voluntary sector, improving community facilities, and creating digital hubs. Further exploration and delivery of ‘Community Wealth Building’ and ‘Social Prescribing’ activities will promote opportunities for communities and residents and improve health and wellbeing.
Under the Support for Local Businesses priority, programmes will provide ongoing support for local businesses thrive, innovate and grow. Funding will be made available to enable businesses to adopt digital technologies and make sustainable energy-saving changes.
Under the People and Skills priority, programmes will reduce the barriers some people face when accessing education and employment, and provide people with opportunities to develop employment-related skills. Employers will also be supported with tailored skills development programmes, designed to address gaps, and further extend knowledge of business needs.
Shared Prosperity Fund Programmes
Further information and links
- UK Shared Prosperity Fund 2025-26
- Rural England Prosperity Fund 2025-26
- UK Shared Prosperity Fund – North Yorkshire Council
- UK Shared Prosperity Fund – City of York Council
- YNYCA Executive Meeting on 7 March 2025 – where the decision was taken to accept the UKSPF grant and to approve the proposed activity in principle