To seek cabinet approval to accept and spend the £6,642,136 of UK Shared Prosperity Funding (UKSPF) allocated to Herefordshire following government’s approval of the Investment Plan submitted in August 2022.  To also seek cabinet approval to accept and spend the £1,705,669 of Rural Prosperity Funding (RPF) allocated to Herefordshire, subject to the government approval of the required UKSPF Investment Plan Addendum submitted on the 30 November 2022.

The cabinet member environment and economy introduced the report. The plan for expenditure of the UK Shared Prosperity Fund was previously agreed by Cabinet in July 2022 and subsequently submitted to the government. An addendum to the plan was approved in November for expenditure of the additional Rural Prosperity Fund allocation.

The council had received notification that the initial shared prosperity fund plan had been approved. It was proposed that the funds be accepted and spent in line with the agreed plan.

An announcement on the rural prosperity fund was still pending but, subject to government approval being received, it was proposed that cabinet also agree to accept this fund and spend in line with the submitted addendum. It was noted that securing this approval now would allow implementation of the planned expenditure to begin promptly once confirmation of the funds was received.

Group leaders gave the views and comments of their groups, which were noted.

It was resolved that:

a)    Following government approval of the submitted Investment Plan, Cabinet approve the acceptance and expenditure of the £6,642,187of UKSPF allocated to Herefordshire (£5,507,211 Revenue and £1,134,976 capital);

b)    Subject to government approval of the submitted Addendum to the UKSPF Investment Plan, Cabinet approve the acceptance and expenditure of the £1,705,669 (capital) of RPF allocated to Herefordshire; and

c)    To delegate to the Corporate Director for Economy and Environment, in consultation with the Cabinet Member for Environment and Economy and the Section 151 Officer, all operational decisions in implementing the funding in accordance with the Herefordshire UKSPF Investment Plan and RPF Addendum.