Vale of Clwyd MP Dr James Davies has welcomed the millions of pounds that Denbighshire is set to receive to help spread opportunity and level up.
It was announced last week that the county will receive £25,647,958 over three years from the UK Government’s Shared Prosperity Fund. North Wales as a whole will receive £126 million.
The Shared Prosperity Fund 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, 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.
Welcoming the funding for Denbighshire, James said:
“I welcome the promised investment of £25,647,958 for Denbighshire, which can be used across a range of projects from supporting adults who lack basic numeracy skills, helping young people into good jobs, and regenerating our high streets.
“This investment will help local residents fulfil their potential, while reducing regional inequalities that have been left untouched for too long”.
He added:
“Wales has dramatically higher funding from the UK Shared Prosperity Fund than any other part of the UK, with funding per head in Wales more than six times higher than in England, and fourteen times higher than the South East of England.”
Driving forward the missions in the government’s Levelling Up White Paper, the UK Shared Prosperity Fund is on top of other HM Government funding for Wales, including the Community Ownership Fund and the Levelling Up Fund, which has already invested £121m into Wales, and £790 million for city and growth deals.
This is in addition to the record £18 billion per year block grant settlement announced by the UK Government for Wales – the largest since devolution over 20 years ago and an increase of £2.5 billion.
Previous EU programmes ramped up and down, and areas will continue to receive EU funding until the end of 2024. Similarly, UK Shared Prosperity Fund will be increased from £400 million in 2022/23 to £1.5 billion in 2024/25, at which point it will match the EU funds it has replaced. North Wales stands to receive more via the UK SPF than under the previous EU structural funds.
