Mid Wales Regional Investment Plan for the UK Shared Prosperity Fund 2022-25

The UK Shared Prosperity Fund (UKSPF) is a central pillar of the UK Government's Levelling Up agenda and a significant component of its support for places across the UK.

It provides £2.6 billion of new funding for local investment by March 2025, with all areas of the UK receiving an allocation.

The Mid Wales Regional Investment Plan UK Shared Prosperity Fund 2022-25 document produced by Ceredigion and Powys Local Authorities along the Growing Mid Wales footprint sets out the priorities for investing the £42.4m UKSPF allocation in Mid Wales over the next three years, up until March 2025.

It has been informed by our local economic strategies and Wellbeing assessments, regional documents and studies, lessons learnt from previous funding rounds and considerable stakeholder engagement.

The UKSPF will support the UK Government's wider commitment to level up all parts of the UK by delivering on each of the levelling up objectives:

• Boost productivity, pay, jobs and living standards by growing the private sector, especially in those places where they are lagging
• Spread opportunities and improve public services, especially in those places where they are weakest
• Restore a sense of community, local pride and belonging, especially in those places where they have been lost
• Empower local leaders and communities, especially in those places lacking local agency
• Through the Multiply Programme, increase levels of functional numeracy in the adult population (Multiply is an adult numeracy programme announced by the UK Government as part of the UK Shared Prosperity Fund)

As set out in the SPF guidance, Ceredigion and Powys will deliver their SPF allocations by investing across the investment priority areas listed below:

1. Communities and Place
2. Supporting Local Business
3. People and Skills

4. Multiply
   
   Mid Wales Regional Investment Plan for the UK Shared Prosperity Fund 2022-25 (PDF, 2 MB)