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

To ask the Secretary of State for Levelling Up, Housing and Communities, if the Shared Prosperity Fund's R&D funding be equivalent to the European Regional Development Funding R&D funding in terms of (a) absolute amount, (b) proportion and (c) regional distribution.

Leaving the EU enables the UK to identify UK-specific priorities and create a fund which invests in UK priorities and targets funding where it is needed most. As set out in various Manifesto commitments and at spending review, the UKSPF is not intended as a direct replacement for ESIF funds. The Fund’s policy and delivery structure significantly differs, with a focus to deliver more tangible Pride in Place benefits across the UK.

Places will be empowered to identify and build on their own strengths and needs at a local level. Should they choose to do so, they can fund Research and Development (R&D) related interventions under the ‘supporting local businesses’ pillar of the fund. However, it will be for places to decide how much of their allocation they spend on R&D depending on their locally identified priorities.