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<p>The Government understands the importance of local growth funding to places and
people and is committed to creating the UK Shared Prosperity Fund to succeed European
structural funds, providing vital investment in local economies, cutting out bureaucracy
and levelling up those parts of the UK whose economies are furthest behind</p><p><br>
The 2019 Conservative Manifesto committed to targeting the UK Shared Prosperity Fund
at the UK’s specific needs, at a minimum matching the size of European structural
funds in each nation. Final decisions on the design of the UK Shared Prosperity Fund
will need to be made through a cross-Government Spending Review, and we will set out
further plans for the fund in due course.</p>
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