The Levelling Up Fund
The UK government is committed to levelling up across the whole of the United Kingdom to ensure that no community is left behind, particularly as we recover from the COVID-19 pandemic.
The £4.8 billion Levelling Up Fund will invest in infrastructure that improves everyday life across the UK, including regenerating town centres and high streets, upgrading local transport, and investing in cultural and heritage assets.
For further information:
Levelling up prospectus
Levelling up fund additional documents
Targeted Regeneration Investment (TRI) programme
The Targeted Regeneration Investment programme is a £100 million Welsh Government programme of targeted regeneration investment.
Local authorities, along with partner organisations, can apply for the capital investment for projects that promote economic regeneration and serve the aims of wider sustainable development with activities focused at individuals and areas most in need.
It will help create jobs, enhance skills and employability, and create the environment for businesses to grow and thrive.
The 4 local authorities in the South West, Neath Port Talbot, City & County of Swansea, Carmarthenshire and Pembrokeshire are working together to deliver the aims and objectives of the South West Wales Regional Plan for Regeneration.
Shared Prosperity Fund
It is not yet clear what will replace EU funding programmes post – Brexit. The UK Government proposes introducing a Shared Prosperity Fund, however few details are known about this as the UK Government has not set out key details about the value of the fund or how it will operate.
The UK Shared Prosperity Fund is likely to be designed and administered by the UK Government. It is proposed that the fund is aligned to City and Growth deals, and local regional / industrial strategies.
Welsh Government held a consultation on future regional policy which ended in March 2018. It is proposed that any future funding in Wales will be aligned to the Welsh Government’s Economic Action Plan which has been developed to support the delivery of the WG Prosperity for All vision
Industrial Strategy Challenge Fund
The Industrial Strategy Challenge Fund aims to bring together the UK’s world-leading research with business to meet the major industrial and societal challenges of our time. This is part of government’s £4.7 billion investment in R&D over 4 years.
By investing in and supporting UK businesses and researchers, the fund will ensure that research and innovation takes centre-stage in government’s Industrial Strategy.
It is delivered by UK Research and Innovation.
For further information: