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<p>The UK Shared Prosperity Fund will help to level up and create opportunity across
the UK in places most in need, such as ex-industrial areas, deprived towns and rural
and coastal communities, and for people who face labour market barriers. We are working
to ensure that there is a seamless transition from current EU structural funds to
the UK Shared Prosperity Fund.</p><p>The November 2020 Spending Review set out the
main strategic elements of the UK Shared Prosperity Fund in the Heads of Terms. We
will ramp up funding so that total domestic UK-wide funding will at least match EU
receipts reaching around £1.5 billion a year. In addition, the UK Government is providing
additional funding in 2021/22 through the UK Community Renewal Fund to help local
areas prepare for the launch of the UK Shared Prosperity Fund.</p>
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