UK Shared Prosperity Funds (UKSPF)

The fund is open for revenue projects that can start delivering in 2022 / 2023 or 2023 / 2024 (as well as potential ideas for 2024 / 2025).

Projects can be for 1, 2 or 3 years of the Fund.

Projects should set realistic start and end dates, as well as realistic milestones.

They should consider that all expenditure must be incurred by 31 March 2025.

Costs may only be incurred from the point of approval onwards. Retrospective costs will not be paid.

South Tyneside Prospectus

Projects must deliver activity in line with the South Tyneside UKSPF Prospectus.

This sets out our key priorities, and the aims of the fund identified by Government.

Read the South Tyneside UKSPF prospectus.

Priorities

There are three investment priorities of the fund:

1. Supporting local business
2. Investment in communities and place
3. Investment in people and skills

Government have said that the people and skills theme is only for the final year (2024 / 25) of the Fund.

Project size, scale and area

There is no minimum or maximum amount of funding that you can apply for.

This is to encourage a range of innovative projects that can deliver for residents and businesses in South Tyneside.

Projects should: 

• benefit some or all areas of South Tyneside, and
• reflect on how they can deliver in the most disadvantaged areas of the Borough

South Tyneside Council would like UK Shared Prosperity Fund projects to provide the maximum benefit to businesses, residents, and communities in South Tyneside.

While we will support regional and cross Council bids, these projects must clearly show:

• what they will deliver in South Tyneside
• how they will deliver it
• the impact it will have in South Tyneside

Type of funding

The UK Shared Prosperity Fund is mainly a revenue programme.

Government guidance states that between 80% and 90% of funding available through the UK Shared Prosperity Fund is revenue funding, with a small amount of capital funding (rising from 10% in the first year to 20% in the final).

Prospective applicants should adjust their bids accordingly. 

Other funding

Match funding is not mandatory and the UKSPF may fund up to 100% of the costs.

However, the Government encourages applicants to maximise leverage of other funding, where appropriate.

This includes other government funding where relevant.

This will be assessed as part of the value for money considerations.

Outputs and results

For information on outputs, outcomes and indicators, see GOV.UK: UKSPF Interventions, Outputs and Indicators.

For local priorities, read the South Tyneside UKSPF prospectus.