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<p>The Levelling Up Fund is a competitive fund, with funding distributed to places
across the UK on the basis of successful project selection. The Fund will set aside
at least £800 million across Scotland, Wales and Northern Ireland over four years
from 2021-2022 to 2024-2025.</p><p>For the first round of the Fund, at least 9% of
total UK allocations will set aside for Scotland, as well as 5% for Wales, and 3%
for Northern Ireland.</p><p>Further detail on future rounds of the Fund will operate
from 2022-23 onward will be set out later this year. For these future rounds, the
parameters of the Fund as set out in the prospectus will be kept under review, and
updated where appropriate to reflect operational feedback and wider changes in Government
policy.</p>
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