Innovation

(asked on 11th July 2023) - View Source

Question to the Ministry of Housing, Communities and Local Government:

To ask the Secretary of State for Levelling Up, Housing and Communities, if he will make an estimate of the potential changes in the level of (a) employment and (b) private sector co-investment in R and D projects since the end of European Regional Development Fund support for innovation.


Answered by
Dehenna Davison Portrait
Dehenna Davison
This question was answered on 17th July 2023

The UK Shared Prosperity Fund (UKSPF) is a successor, and not a replacement, to the former European Social Fund and European Regional Development Fund.

Each place was tasked with working with local partners - including businesses and education and innovation providers - to develop an investment plan. Places could choose from a range of interventions, including investment in research and development (R&D). It is for places to decide how they use their allocation for R&D, and this will depend on locally identified priorities.

Each place was also strongly encouraged to consider match funding from the private, public and third sectors and leverage options to maximise fund impact.

Reticulating Splines