Committee Chairs seek clarity on Shared Prosperity Fund
9 June 2020
An influential group of MPs have written to the Housing Secretary, Robert Jenrick, seeking urgent clarity on the progress of the Government’s proposed Shared Prosperity Fund.
The fund is set to replace the European Structural and Investment Fund (ESI) at the start of 2021. The UK currently receives around £2.1 billion per year from ESI to boost economic development, but no details have yet been released over how its replacement will be managed.
In the joint letter, the Chairs of the Housing, Communities and Local Government, and Northern Ireland, Scottish, and Welsh Affairs Committees stress that the impact of coronavirus on the UK economy has made a “smooth transition to an effective Shared Prosperity Fund more vital than ever.”
The letter also asks Mr Jenrick to provide answers on potential timetabling and readiness of the SPF and to lay out whether the cost of the Covid-19 crisis will be reflected in financial allocations.
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