Issue - meetings
UK Shared Prosperity Fund: Investment Plan
Meeting: 26/07/2022 - Cabinet (Item 20)
UK Shared Prosperity Fund: Investment Plan
(Cabinet Member with Special Responsibility Councillor Caroline Jackson)
Report of the Chief Executive. (The report was published on 20 July 2022; appendices to the report were published on 22 July 2022.)
Additional documents:
- CabinetUKSPF260722v01, item 20
PDF 468 KB
- Cabinet UKSPF EIA 260722, item 20
PDF 802 KB
- UKSPF LCC Appendix 1, item 20
PDF 107 KB
- UKSPF LCC Allocation by Intervention Appendix 2, item 20
PDF 128 KB
Minutes:
Cabinet Member with Special Responsibility Councillor Caroline Jackson)
Cabinet received a report from the Chief Executive which set out the core elements of the UK Shared Prosperity Fund (UKSPF) Investment Plan, to be finalised and submitted to government by the deadline of Monday 1 August 2022. In accordance with Part 3, Section 3, Rule 17 (Call-in and Urgency) the Chief Executive consulted with the Chair of the Overview & Scrutiny Committee prior to the meeting as he was minded to waive call-in on this decision in order to meet the submission deadline.
The options, options analysis, including risk assessment and officer preferred option, were set out in the report as follows:
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Option 1: Approve the recommendations set out in the report |
Option 2: Propose amendments to the suggested approach set out in the report |
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Advantages |
The UKSPF Investment Plan can be finalised and submitted, with officers and partners moving into the development and design of projects that will successfully deliver on the Interventions selected. |
The views of Cabinet members are integral to the successful delivery of the UKSPF. Any proposed amendments to the balance of funds, Interventions selected or funding allocated to each Intervention can be integrated into a redrafted Investment Plan ahead of its submission. |
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Disadvantages |
None specifically identified, on the basis that Cabinet will have reached a consensus on the proposed Investment Plan structure in selecting this option. |
With limited time available before the submission deadline, the implications of making significant amendments at this stage and their knock-on effect on the overall balance of funding should be carefully considered. |
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Risks |
As with any medium- to long-term funding, a degree of uncertainty exists as to the accuracy of funding allocations made at this stage for projects to take place over the next three years. The Fund has a built-in degree of flexibility that should allow for appropriate changes to be made. |
As set out above, proposing significant amendments at this stage could put the coherence of the Investment Plan at risk. Nonetheless, the flexibility within the UKSPF guidance indicates that amendments can be accommodated where possible. |
The officer preferred option is Option 1, given that the highest possible dialogue has taken place in reaching the recommendations set out in this report. The degree of flexibility inherent in the Investment Plan process must also be considered in reaching a decision on the recommendation. However, it is recognised that members are ultimately responsible for the content and delivery of the UKSPF Investment Plan. As such, reaching a consensus at this stage and accommodating any proposed amendments is of fundamental importance to moving into successful delivery of the UKSPF.
Councillor Caroline Jackson proposed, seconded by Councillor Heath:-
“That the recommendations, as set out in the report, be approved.”
Councillors then voted:-
Resolved unanimously:
(1) That Cabinet approve the following key elements of the UK Shared Prosperity Investment Plan, set out in this report:
· The proposed balance of funds to be allocated across the three Investment Priorities, set out in section 2 of ... view the full minutes text for item 20