Question to the Department for Levelling Up, Housing & Communities:

To ask the Secretary of State for Levelling Up, Housing and Communities, if he will set out the allocation (a) that each nation would have received through European Structural Funds in the event that the UK had remained in the EU and (b) that each national will receive through the Shared Prosperity Fund in each of the next three years.

UK-wide, funding for the UK Shared Prosperity Fund will ramp up to £1.5 billion per year by March 2025. Alongside commitments to support regional finance funds across the UK via the British Business Bank, this upholds the UK government’s commitment to match EU structural fund receipts for each nation.

All areas of the UK will be receiving an allocation from the Fund via a funding formula rather than a competition. This recognises that even the most affluent parts of the UK contain pockets of deprivation and need support.

The Government will publish a full Prospectus with further detail on the fund later in Spring.