Investment plan agreed to access government funding

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In May, the government released details of the UK Shared Prosperity Fund, which included an allocation of almost £3.5million for Burnley.

In order to access the money, Burnley Council must submit an investment plan to the government.

The plan sets out how the funding will be used over the next three years to promote local business growth, improve people’s skills and learning, and support community projects.

The investment plan proposes a series of projects, including a grant program to enable voluntary organizations and community groups to improve their neighborhoods and community facilities; an investment program in green spaces and playground equipment; a comprehensive business support program to help businesses be more productive, reduce their carbon footprint and create new jobs; and a support program to help unemployed people get closer to employment, education and training.

The Pleasure of shared prosperityd (SPF) replaces the European Union funding streams previously provided at county level. Across Lancashire, the amount of SPF funding available is approximately 40% lower than current EU funding schemes.

Council leader Councilor Afrasiab Anwar said: “While it is disappointing to receive less money than before through EU schemes, it is still good news to see almost 3, £5 million investment in our borough over the next three years.

“Our investment plan clearly sets out how we will use this funding as efficiently as possible to ensure that we get maximum value from it. The focus will be on supporting local business growth and entrepreneurship, strengthening our communities, and supporting the skills of our residents and businesses.

In developing the plan, council officers assessed the proposed interventions against the council’s priorities identified in its economic recovery and growth strategy and in the community recovery plan.

In terms of projects to deliver interventions, the council works with local organizations, harnessing the skills and experience of partners best placed to deliver projects and interventions to co-design and commission services.

The executive of the council approved the investment plan which will be submitted to the government.

Publication expires at 7:00 a.m. on Saturday, October 29, 2022

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