AQW 12535/22-27

Mr Eóin Tennyson
Alliance Party
Upper Bann

Tabled Date: 24/05/2024
Answered On Date: 06/06/2024
Priority Written: No

Question:
To ask the Minister of Finance to detail how recent allocations from the (i) Levelling Up Fund; and (ii) Shared Prosperity Fund have been distributed.

Answer:

All decisions in relation to the allocation and distribution of Levelling Up Fund (LUF) and the Shared Prosperity Fund (SPF) have been made by the British Government. Therefore any questions regarding the allocation and distribution of these funds are a matter for the Department of Levelling Up, Housing and Communities.

The British Government included £30m which was previously allocated to the North for LUF Round 3, and an unallocated amount of £23m from SPF in the repurposed funding element of the £3.3bn Executive Restoration Package.

These re-purposed funds totalled £708m, to be allocated equally over 5 years from 2024-25 to 2028-29. This included £235 million ring-fenced for Transformation projects, and the remaining £473 million, or £94.6milion per annum, to be allocated by the Executive. The £94.6 million provided in 2024-25 formed part of the Budget, which was agreed by the Executive in April 2024 and approved by the Assembly in May 2024. The remaining funding will be allocated through future Budget processes.