TIC Update

UKR-RUS Trade Exposure Commission

We are collecting information and/or case studies to share with the government Supply Chains Hub. If you are experiencing any impacts in your organisation/business due to the current situation in Ukraine/Russia, please let us know. This could be in terms of supply chain issues, bookings and sales as well as events. Please send your submissions to lucy.hannon@dcms.gov.uk by EOP on 26th April. 

Levelling Up Fund: Round Two

London borough councils and district councils in two tier areas in England are eligible to submit bids for the second round of the Levelling Up Fund which was announced in the 2022 Spring Statement. 

The Levelling Up Fund is designed to invest in infrastructure that improves everyday life across the UK. The £4.8 billion fund will support town centre and high street regeneration, local transport projects, and cultural and heritage assets. Across England, Scotland, Wales and Northern Ireland (NI), unitary authorities (including metropolitan borough councils), 

In addition to local authorities, the UK government will accept bids from a range of local applicants in NI, including but not limited to businesses, universities, voluntary and community sector organisations, district councils, the Northern Ireland Executive, and other public sector bodies. The Fund will run until 2024/25. The application window opens on Tuesday 31 May 2022, with a deadline of 12:00 noon on Wednesday 6 July 2022.

UK Shared Prosperity Fund

The UK Shared Prosperity Fund (UKSPF) prospectus and supporting documents have been published on gov.uk. UKSPF is a central pillar of the UK government’s Levelling Up agenda and a significant component of its support for places across the UK. It provides £2.6 billion of new funding for local investment by March 2025, with all areas of the UK receiving an allocation from the Fund via a funding formula rather than a competition. It will help places right across the country deliver enhanced outcomes and recognises that even the most affluent parts of the UK contain pockets of deprivation and need support.

The window for the submission of investment plans will run from 30 June 2022 to 1 August 2022.