Following on from the successful launch of the UK Shared Prosperity Fund (UKSPF), a webinar will take place to provide details for the recently announced Rural England Prosperity Fund (REPF), which aims to improve productivity and strengthen the rural economy and rural communities across the country.
The REPF is part of the UKSPF and the East Riding has been allocated £1.8 million from it. In order to draw down the allocation, East Riding of Yorkshire Council must submit an addendum to its UKSPF investment plan, which is currently under assessment by the government.
The council will host the webinar on Monday, 10 October 2022, between 10:00 – 11:30, to provide an overview of the REPF and explain how groups, organisations and businesses can help inform development of the addendum by submitting project ideas via an online form. A link to join the webinar on Microsoft Teams will be shared with those who register prior to 5pm on Friday, 7 October 2022. A recording of the webinar will then be placed on the council’s website after it has taken place. To register for the webinar now, please visit our Eventbrite page: https://ruralenglandprosperityfundeastriding.eventbrite.co.uk.
What is the Rural England Prosperity Fund (REPF)?
The REPF supports the aims of the government’s Levelling Up White Paper and Future Farming Programme. It will fund capital projects for small businesses and community infrastructure in order to improve productivity and strengthen the rural economy and rural communities.
The REPF is integrated into the UKSPF – which promotes productivity and prosperity in places that need it most – and supports activities that address the particular challenges rural areas face, including lower productivity rates, poorer connectivity and poorer access to key services.
The REPF objectives sit within the UKSPF investment priorities for supporting local business and community and place and will provide capital funding to:
- support new and existing rural businesses to develop new products and facilities that will be of wider benefit to the local economy. This includes farm businesses looking to diversify income streams; and
- support new and improved community infrastructure, providing essential community services and assets for local people and businesses to benefit the local economy.
What will the REPF be able to fund?
The REPF will provide capital funding to support lasting assets such as a building or equipment.
Funding will be available for business or community purposes but cannot be used to fund domestic property improvements or buy private vehicles. Revenue costs such as running costs, salaries or promotional activities are not eligible for this fund.
Projects must be located or delivered in a rural area, which for the purpose of this fund are defined as:
- towns, villages, and hamlets with populations below 10,000 and the wider countryside
- market or ‘hub towns’ with populations of up to 30,000 that serve their surrounding rural areas as centres of employment and in providing services.
Projects will also need to consider how any award of funding will contribute to net zero and nature recovery objectives. These include:
- the UK’s commitment to cut greenhouse gas emissions to net zero by 2050;
- wider environmental considerations, such as resilience to natural hazards; and
- the 25 Year Environment Plan commitments.
To support green growth, projects should consider how they work with the natural environment to achieve objectives. At a minimum, they need to have regard for their impact on our natural assets and nature.
For more information about the Rural England Prosperity Fund, please click this link.
Councillor Jane Evison, portfolio holder for economic investment, growth and tourism at East Riding of Yorkshire Council, said: “This is another great opportunity for people and businesses from rural areas to come together and have their say on how they would like to see the REPF spent in the East Riding.
“The webinar has been set up to provide information to stakeholders from a wide range of sectors and there will be opportunities to then engage further with the council following the event. We want to engage with people who have great project ideas and people who are really passionate and ambitious about the East Riding.”
