Some £2.6 billion of levelling up funding will be awarded to communities across the UK through the UK Shared Prosperity Fund (‘UKSPF’), the Government has announced.
The UKSPF invests in local communities by helping to regenerate high streets, tackle economic decline, and reverse geographical inequalities – with areas in greater need receiving more support.
This money will be given to locally elected authorities and leaders who best know what their communities need – helping to slash bureaucracy and support communities in seizing new opportunities.
The spending confirms that the Conservative Government has fulfilled its commitment to match previous EU funding on social and regional development.
Mr Stephenson said: “I am incredibly proud of Pendle and know that our best days lie ahead. I am determined to work with the Government to ensure that everyone from our area is able to reach their full potential.
“That is why I welcome the investment of over £3.6 million for Pendle, which can be used across a range of projects from supporting adults who lack basic numeracy skills, helping young people into good jobs, and regenerating our high streets.
“This investment will help to local residents to fulfil their potential, while reducing regional inequalities that have been left untouched for too long”.