UK Shared Prosperity Fund

Overview

The UK Shared Prosperity Fund (UKSPF) was launched in April 2022.

Supports the ambitions of the Levelling Up White Paper and aims to build pride in place and increase life chances across the country.

Castle Point Borough Council was allocated £1m for local levelling up projects for the period 2022 to 2025. It has received a further £327,000 for 2025 to 2026.

Investment priorities

After consultation with a wide range of community stakeholders in line with UKSPF guidance, the Council has prioritised ten UKSPF interventions in its Investment Plan, which was submitted in September 2022 and approved by government in December 2022. The interventions focus on support for communities, businesses and skills development and these are being delivered through a combination of: grants to public or private organisations; commissioning third party organisations; procurement of service provision; and in-house provision.

What is the UK shared prosperity fund grant programme?

The Council has launched a grant programme allowing organisations to apply for funding towards:

• Investment Priority Inclusive: Bringing communities together.

The programme will cover the following period: August 2025 — March 2026.

(Note: projects will need to work to financial year annual budgets)

The Council’s UK Shared Prosperity Fund Grant Programme is offering grants of:

• Revenue only applications:  up to £5,000.
• Capital only or Capital and Revenue applications: up to £5,000 (capital) and £5,000 (revenue)

(An expenditure becomes capital when the total is £10,000 or over and when it is related to  building work, including major repairs to the fabric of the building - but not solely replacement fittings/making good - and large items of equipment.)

Applications for Revenue funding must have match funding of at least 25% of the project cost.

Capital funding must have match funding of at least 50% of the project cost. Please note: in-kind costs and volunteer time are not eligible as match funding. Please note the split available in total between capital and revenue and apply accordingly.

This funding can be used for projects and activities that are delivered between 1st August 2025 — 31st March 2026.