UK Shared Prosperity Fund

Lord Teverson Excerpts

Thursday 21st May 2020 Lords Chamber

Asked by

[Lord Teverson]

To ask Her Majesty’s Government when they intend to publish their proposals for the roll out of the UK Shared Prosperity Fund.

The Question was considered in a Virtual Proceeding via video call.

[The Minister of State, Home Office and Ministry of Housing, Communities and Local Government (Lord Greenhalgh) (Con)]

The Government recognise the importance of bringing clarity on the UK shared prosperity fund. Decisions on its design will need to be taken after a cross-government spending review. In the meantime, we will continue to work closely with regional partners while developing policy.

[Lord Teverson (LD)]

I thank the Minister for that Answer, although it is rather disappointing. This is urgent. In their manifesto, the Government made a commitment to launch this fund. Time is running out on EU funding, and we need this funding to bring up regions in the post-Covid-19 recovery. Can the Minister give some feeling about when this scheme will be announced in detail so that people can prepare for it locally and regionally? Can he confirm that the amounts available to regions will be the same as they would have been under European funding?

[Lord Greenhalgh]

Yes, I can give the noble Lord an assurance that the amount of funding will be at least at the same level as all the European structural funds it replaces. I cannot say any more about the timing, and I refer to my previous point about the importance of the comprehensive spending review.