(3 years, 2 months ago)
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The Chief Secretary to the Treasury (Steve Barclay)
The Government will deliver the levelling-up fund UK-wide using the financial assistance powers in the UK Internal Market Act. This will extend the benefits of funding for priority local infrastructure to local areas in Scotland, Wales and Northern Ireland.
The £4 billion announced at the spending review will now make available £4.8 billion UK-wide between 2021-22 and 2024-25.
It will be allocated competitively and be open to all local areas across the UK to boost growth and spread opportunity.
Making the fund UK-wide ensures that UK Government can target funding more efficiently and responsibly between different parts of the country. It will enable the Government to take a strategic approach across the UK, allocating funding in all parts of the country, irrespective of administrative borders.
Further details on how the fund will operate will be published at Budget.
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