Decision Details

Implemented

UK Shared Prosperity and Rural England Prosperity Funds

Yes

Report of the Deputy Leader and Cabinet Member with responsibility for Economic Development and the Cabinet Member with responsibility for Communities, Leisure and Tourism

Tue 1 Nov 2022

To seek approval from Cabinet to receive £2.75m of funding from the UK Shared Prosperity Fund (UKSPF) to deliver a multi-year business support, community development and skills development programme. To further seek approval to implement ESC’s UKSPF Investment Plan (see Appendix A) which outlines how these activities will be delivered either directly by ESC or with partners and the anticipated outcomes they will achieve.

 

In addition, to seek approval from Cabinet to receive £1.13m of funding from the Rural England Prosperity Fund (REPF). This is a capital fund scheme designed to support small businesses and community infrastructure projects within the rural areas of East Suffolk. The REPF delivery programme will be an addendum to the existing UKSPF Investment Plan and will be submitted to the Department for the Environment, Food and Rural Affairs (DEFRA) for approval by 30 November 2022.

Communities

Approved budget

Yes

Economic Development & Regeneration

None.

None.

Committee

Cabinet

No

Yes

Yes

No

Accepting ESC’s allocations through the UK and Rural England Prosperity Funds will enable the delivery of a range of new and existing business and community support programmes. The interventions set out in the UKSPF Investment Plan and forthcoming rural addendum represent a combination of investment in business, communities and individuals. These interventions will address current challenges such as the cost of living crisis, the need to support the micro and SME business sector and workforce skills development. In addition, there will be specific support aimed at our rural areas to reflect the particular challenges they face and enable investment in both business and community infrastructure.

£3,880,000

To not to accept the allocations from the UKSPF and REPF.

1. That the receipt of £2.75m from the UK Shared Prosperity Fund be approved.

 

2. That the implementation of the ESC UK Shared Prosperity Fund Investment Plan be approved.

 

 3. That the receipt of £1.13m from the Rural England Prosperity Fund be approved. 

 

 4. That authority be delegated to the Head of Economic Development and the Head of Communities, in consultation with the Cabinet Member with responsibility for Economic Development and the Cabinet Member with responsibility for Communities, Leisure and Tourism, to finalise the Rural England Prosperity Fund delivery plan and submit to DEFRA by 30 November 2022.

None.

None.