Levelling Up Fund extended to the whole of the UK

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A multibillion-pound fund to level-up opportunities is being extended so that people in every region and nation of the UK can benefit.

The Levelling Up Fund will be extended to the whole of the UK to help boost growth in Scotland, Wales and Northern Ireland.

£4.8 billion will now be invested in local projects, such as regeneration and transport, ensuring the government provides the same support to communities across the UK.

The Levelling Up Fund will invest in local infrastructure that has a visible impact on people and their communities.

It will run from 2021/22 to 2024/25, and drive regeneration in places in need, those facing particular challenges, and areas that have received less government investment in recent years.

The initial £4 billion will now be made £4.8 billion as the scheme becomes UK-wide.

Making the Levelling Up Fund UK-wide will enable the government to provide the same support to communities in all parts of the UK as we build back better from Covid.

“Our levelling-up fund will back local projects to improve everyday life for millions of people and we look forward to working with all areas to boost local economy,” said Steve Barclay, Chief Secretary to the Treasury.

“By extending the levelling-up fund to be UK-wide, we are ensuring that no community in the United Kingdom is left behind.”

Further details on how the Fund will operate will be published in the prospectus at Budget – including who can bid, the types of projects eligible for funding, and the criteria for assessing proposals.

Ellis & Co Chartered Accountants and Business Advisers, Chester & Wrexham - 01244 343504, info@ellis-uk.com