AQW 6511/22-27

Mr Alex Easton
Independent
North Down

Tabled Date: 15/02/2024
Answered On Date: 22/02/2024
Priority Written: No

Question:
To ask the Minister for the Economy for his assessment on whether the UK Shared Prosperity Fund has met its commitment to fully replicate the level of funding previously provided by the EU in Northern Ireland.

Answer:

The British Government committed to fully replacing EU Structural Funds through the Shared Prosperity Fund (SPF) and made clear that decisions made and allocations to projects from that fund would be made solely by DLUHC as the responsible Whitehall Department.

The £42m per annum SPF allocation (£127m three-year total) compares poorly with the £65m average per annum (£195m across three years) Executive Departments would have expected from ESF and ERDF, before taking inflation into consideration. The funding provided by the British Government to date has not represented full replacement. The Finance Minister leads in negotiations of replacement funding with the British Government and I will continue to support her efforts in that regard.

DoF leads the cross-departmental Future Policy & Finance Workstream that provides input and a channel for engagement with DLUHC on funding streams associated with the Levelling Up agenda, including the Shared Prosperity Fund (SPF). With our support, DoF also continues to press for NI Executive control over distribution of this funding.