UK Shared Prosperity Fund

The UK Government’s Shared Prosperity Fund aims to improve pride in place and increase life chances across the UK. Investing in communities and place, supporting local business, and people and skills.

We are the accountable body for the funds and will be the body reporting back into government. The UK Government’s Autumn Budget announced a further £900 million of funding for local investment by March 2026.

For 2025 to 2026, interventions are across the three priority areas:

  • communities and place
  • support for local business
  • people and skills

This funding allocation of £21,748,007 will go to the Lancashire County Combined Authority. With £3,301,752 capital and £18,446,256 as revenue.

Support in your area

All 14 Lancashire local authorities have received their own Shared Prosperity Fund allocation.

Each local authority has allocated its own funding.

Blackburn with Darwen

UK Shared Prosperity Fund Blackburn with Darwen Borough Council

Blackpool

Shared Prosperity Fund Blackpool Council

Burnley

UK Shared Prosperity Fund Burnley Council

Chorley

UK Shared Prosperity Fund Chorley Council

Fylde

UK Shared Prosperity Fund (UKSPF) Fylde Council

Hyndburn

UKSPF Hyndburn Borough Council

Lancaster

UK Shared Prosperity Fund Lancaster City Council

Rural England Prosperity Fund Lancaster City Council

Pendle

UK Shared Prosperity Fund Pendle Borough Council

Preston

UK Shared Prosperity Fund Preston City Council

Ribble Valley

UK Shared Prosperity Fund Ribble Valley Borough Council

Rossendale

Shared Prosperity Fund Rossendale Borough Council

South Ribble

UK Shared Prosperity Fund 2025/26 South Ribble Borough Council

West Lancashire

UK Shared Prosperity Fund 2025/26 West Lancashire Borough Council

Wyre

Shared prosperity fund Wyre Council

Rural England Prosperity Fund (REPF)

The Government has confirmed that the Rural England Prosperity Fund (REPF) will continue for a further year with up to £33 million of funding available to eligible local authorities to invest in local growth in England.

This amounted to £653,065 for five designated authorities in Lancashire:

  • Wyre
  • Ribble Valley
  • West Lancashire
  • Chorley
  • Lancaster

The REPF is a rural top up to UK Shared Prosperity Fund (UKSPF), providing allocations to help address the additional needs and challenges facing rural areas.

The REPF provides capital funding to:  

  • support new and existing rural businesses to develop new products and facilities that will be of wider benefit to the local economy. This includes farm businesses looking to diversify income streams
  • support new and improved community infrastructure that provide essential community services and assets for local people and businesses to benefit the local economy