18/01/2023
£2.1 billion allocated to successful Levelling Up Fund Round 2 applicants
The CFPI welcomes that the Levelling Up Fund (LUF) will finance 111 projects across the United Kingdom with up to £2.1 billion.
According to Levelling Up Fund investment themes, grants will be allocated as follows:
Developing better transport
More than £645 million from the Levelling Fund has been allocated to improve transport links across 26 projects.
Revitalising towns and cities
Over £760 million is being provided to regenerate towns and cities, and promote housebuilding initiatives.
Restoring local heritage
£545 million will restore local landmarks and protect them for future generations.
Levelling Up Secretary Michael Gove said the support would be “firing the start gun” on a range of projects across the UK.
“This new funding will create jobs, drive economic growth, and help to restore local pride. We are delivering on the people’s priorities, levelling up across the UK to ensure that no matter where you are from, you can go as far as your talents will take you.”
Chancellor Jeremy Hunt called the Fund a “major down payment on local jobs, growth and regeneration”, whilst confirming a further round of funding
Regional distribution
Gove described the Fund as “specifically tilted towards the North, the Midlands, Wales, Scotland, and Northern Ireland”.
Allocations to each region are as follows:
- North West – £354,027,146
- South East – £210,467,526
- Wales – £208,175,566
- South West – £186,663,673
- Scotland – £177,206,114
- East Midlands – £176,870,348
- East – £165,903,400
- West Midlands – £155,579,834
- London – £151,266,674
- Yorkshire and the Humber – £120,619,162
- North East – £108,548,482
- Northern Ireland – £71,072,373
Expenditure deadlines
Levelling Up Fund allocations must be spent by March 2025. Authorities will need to move rapidly through the various phases required before successful delivery.
The CFPI expresses concern that many will be unable to meet such stringent deadlines, and recommends that the Department for Levelling Up, Housing and Communities review progress in March 2024.