In April 2022, government launched the UK Shared Prosperity Fund (UKSPF), to replace the European Union funded structural funds. The primary goal of the UKSPF is to build pride in place and increase life chances across the UK. This aligns with the Levelling Up White Paper missions. Funding is targeted where it is needed most: building pride in place, supporting high quality skills training, supporting pay, employment and productivity growth and increasing life chances.

Government announced approval of the Investment Plan on the 5 December 2022, and Cabinet took the decision to accept and spend these funds on 15th December, 2022 https://councillors.herefordshire.gov.uk/ieDecisionDetails.aspx?ID=9216

Hereford City Bike Share will deliver measure E1, which supports improvements to town centers and high streets which support carbon reduction.