Councillors set to discuss an application for its £1.036 million share of the Government’s £2.6 billion Shared Prosperity Fund (UKSPF) to support businesses and communities.
At a meeting of Braintree District Council’s Cabinet on 25 July, councillors are set to discuss an application for its £1.036 million share of the Government’s £2.6 billion Shared Prosperity Fund (UKSPF) to support businesses and communities over the next three years.
In order to unlock Braintree District’s allocation of £1,036,483, the Council, like all authorities, will need to submit an investment plan to Government by 1 August 2022 on how the funds will be spent in all three years against the three investment priorities set by Government, which are linked to the levelling up missions set out in the Government’s White Paper:
- communities and place
- supporting local businesses
- people and skills (year 2024-25 only)
If agreed by Cabinet and the investment plan is supported by Government, the funding will be used to help support residents through the cost of living crisis, support local businesses to start, grow and expand, help people gain the skills that they need, as well as strengthen and support the work carried out by local communities.
It will also help deliver the ambitions and priorities in the council’s Bouncing Back Together Plan up until March 2023 and Corporate Strategy 2020-2024.
The Council has completed the initial engagement process with local stakeholders including community groups and organisations, business representatives, MP’s and local authorities who have helped shape the areas of investment and will continue to play a part in the delivery of initiatives.
Cllr Graham Butland, Leader of Braintree District Council, said: “This government funding has given us a real opportunity to provide further help to our residents and businesses on the things we know matter to our local communities. There are many hurdles to follow on the guidance and rules set by Government, but we are confident we have a good investment plan that will evolve over the next three years to help the district bounce back stronger and support those who live and work in the Braintree district. As a council we will continue to lobby government to open up further funding pots or support opportunities for district councils.”
The Council is expecting its plan to be approved in the autumn with work starting later this year for year one, and over the subsequent two years.
Full details can be found in the Cabinet agenda here.