£4.3m funding secured to ignite growth in Cambridgeshire and Peterborough

The government has confirmed an additional £4.3m funding boost to drive growth and reduce inequality across Cambridgeshire and Peterborough.

The funding, part of the UK Shared Prosperity Fund (UKSPF), is a key element of the government’s Levelling Up agenda, which will inject £2.6 billion into local investments by April 2025.

Every UK region will receive a share, empowering local areas to leverage their unique strengths. From boosting productivity to fostering community spirit, the goal is to build pride and enhance life chances across the UK.

Previously, the Cambridgeshire and Peterborough Combined Authority received nearly £10m in April 2022 for three years of funding from the Ministry of Housing Communities and Local Government (MHCLG), resulting in £3m per year for projects. The scheme is funding 38 projects across various districts and city councils.

The projects are scheduled to be completed by March 2025, click here to see the full list: https://cambridgeshirepeterborough-ca.gov.uk/wp-content/uploads/UK-SPF-projects-final.xlsx

The funding has facilitated a range of projects throughout the region.

Fenland’s initiatives feature innovative grant schemes for businesses, programmes to engage young people in arts and culture to reduce anti-social behaviour, and a scheme to reduce fly-tipping.

Dr Nik Johnson, Mayor of Cambridgeshire and Peterborough said: “£4.3m is a huge and welcome boost for our region-wide efforts tackling inequality and deprivation. As a Combined Authority, our core purpose is to make life better, healthier and fairer for all and this new funding from the Government brings us closer to that goal.”

Chair of the Business Board, Al Kingsley said: “Delighted to welcome additional funding from UKSPF, which will make a positive contribution to Cambridgeshire and Peterborough.

“This funding will empower local areas to make positive changes in our communities, which will make a difference to our economy, environment, and most importantly individuals in Cambridgeshire and Peterborough.

“Thank you to everyone who made this possible and I will be looking forward to seeing the projects progress.”

Details on how local city and district councils can submit bids for project funding will be released in the New Year.