Decision details

The Director of Prosperity and Development provided Cabinet with an update on the UK Government Shared Prosperity Fund (UKSPF), which supports the government’s wider commitment to level up all parts of the UK and provides funding for local investment between 2022 and 2025. The Director sought to highlight the investment opportunities for Rhondda Cynon Taf and the wider South East Wales region and provide detail of the proposed delivery arrangements and the timescales for the submission and appraisal of a South East Wales Regional Investment Plan.

The Cabinet Member for Development and Prosperity was pleased to note the content of the report and commented that £585M of new investment would be brought to Wales, with around half allocated to the South East region and 16% to RCT.The Cabinet Member also took the opportunity to congratulate officers on taking the lead for the Region.

The Deputy Leader spoke positive of the report and the Cabinet RESOLVED:

1.    To consider the detail of the UK Government Shared Prosperity Fund for the period 2022 to 2025 and the potential investment opportunities for Rhondda Cynon Taf and the wider South East Wales region;

2.    To the delivery arrangements for SPF in RCT and the wider Cardiff Capital Region and the requirement for a 3 year Regional Investment Plan to access the Fund as set out in Section 7 of the report; and

3.    To endorse the Council’s role as lead authority for South East Wales and the development and submission of a Regional Investment Plan to UK Government by 1 August 2022.