Published: 16th Aug 2019

A cross-party group of MPs has warned the planned UK Shared Prosperity Fund (UK SPF) could be merged with other official funding streams as part of a Westminster ‘power grab’. A new report from the All-Party Parliamentary Group (APPG) on Post-Brexit Funding for Nationals, Regions and Local Areas has claimed the government is considering merging the Local Growth Fund with the UK SPF, which is due to replace EU regeneration and structural grants when the UK leaves the EU. The UK SPF was first announced as part of the Conservative Party general election manifesto in 2017, which promised it would be ‘cheap to administer, low in bureaucracy and targeted where it is needed most’. But details remain patchy about how the UK SPF will actually work. A full consultation on the new fund was due to be held by ministers before the end of 2018, but has still yet to occur. … (To read the full article, subscribe below)