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Two Mid Wales councils to submit joint bid for over £42m from Shared Prosperity Fund

A BID for over £42 million from the UK Government’s Shared Prosperity Fund (SPF)  is set to be jointly made by both Powys and Ceredigion Councils.

At the Royal Welsh showground the two leaders, Cllr James Gibson-Watt of Powys County Council and Cllr Bryan Davies of Ceredigion County Council had already confirmed their commitment to work together to deliver two major programmes of work:-

The Mid Wales Growth Deal: a ground-breaking partnership bringing a combined investment of £110m from UK and Welsh Government, which is expected to lever in significant additional investment from other public and private sources maximising the impact in the Mid Wales region.

The Mid Wales Corporate Joint Committee: one of four established across Wales to strengthen local democracy and accountability by integrating decision making in three key areas: regional transport, strategic development planning, and economic wellbeing.

Some of the principles of the £42m UK Prosperity Fund “Regional Investment Plan” bid will be discussed by councillors at a meeting of Powys County Council’s Economy, Residents and Communities scrutiny committee next Monday, July 25.

Then on Tuesday, July 26, it is expected that the report will be in front of the Powys cabinet for a decision, as the bid needs to be submitted by Monday, August 1.

The SPF is seen as the replacement for the European Union structural funding which will stop following Brexit.

The report suggest that over a three-year period that Powys will receive £27.443 million and Ceredigion £14.961 million

Economic strategy and climate change lead, Rebecca Jeremy said:

“Powys is required to work with Ceredigion to develop a Regional Investment Plan for Mid Wales, which is to be submitted to UK Government that will set the framework for the investment.

“This will then allow projects to come forward for funding.”

“It is expected that projects developed under the SPF will be aware of and
address, the wellbeing of current and future generations, whilst addressing
the needs of the people Powys County Council currently serves.”

The report states that Ceredigion would be the “lead authority” for the SPF.

Projects need to come under three themes, and these are:

Communities and place; Supporting local business; and People and skills.

The report adds that to approve that the SPF would be split between the with  40 per cent going to Communities and Place; 40 per cent to Supporting Local Business and 20 per cent to People and Skills.





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