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Views Needed on £41m Swansea Funding Pot

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Worth over £41m to the city, views are wanted on how funding earmarked for Swansea should best be used in the next three years.

Responses to an online survey that’s now live at www.swansea.gov.uk/sharedprosperitysurvey will help Swansea Council develop a local investment plan aimed at addressing the city’s needs and making the most of its opportunities.

Feedback from residents and businesses is needed on a number of key themes by midnight on Sunday July 17. These include communities and place, supporting local business, and people and skills.

Once finalised, the local investment plan will then help inform a regional investment plan for South West Wales, which is aimed at unlocking £138m of UK Government Shared Prosperity Fund money that’s already been set aside for the region.

Swansea is set to benefit from £34.4m of this core funding, as well as a further £7.2m to improve the numeracy skills of adults.

The Shared Prosperity Fund is the main source of UK Government funding replacing the European Regional Development Fund and European Social Fund that are no longer available following the UK’s withdrawal from the European Union, although it is not a direct like-for-like replacement.

Cllr Robert Francis-Davies, Swansea Council’s Cabinet Member for Investment, Regeneration and Tourism, said:

“Many organisations throughout Swansea made use of EU funds, so we know they’re interested in helping us decide how this funding should best be used over the next three years.

“Other people and organisations will have their own views too, which is why everyone is being encouraged to fill out the survey that’s now live on the council website.

“This is an opportunity to help determine how millions of pounds of money will best be spent to boost our communities, businesses and skills, so I’d invite as many people as possible to have their say.”

The regional investment plan will be submitted to the UK Government by August 1 for approval in the autumn.

Local authorities have not yet received any Shared Prosperity Fund money. Detailed guidance from the UK Government on how the funding will be distributed to projects is also yet to be confirmed, although the preference is for a competitive process.