The replacement of EU funding with UK Shared Prosperity Fund (SPF) and Levelling Up Fund (LUF) is making a significant impact in Wales. With £585 million of SPF money allocated to Wales between 2022 and 2025, councils are distributing funds to businesses and organisations for various projects. The competitive LUF saw 17 out of 22 local authorities in Wales securing £329 million, while bids worth £754 million didn’t make the cut. Swansea and Carmarthenshire councils have benefitted from these funds.
In Carmarthenshire, organisations such as Llandysul Paddlers, Llandovery Youth and Community Centre, and Llanedi Community Council have seen improvements thanks to SPF funding. In Swansea, projects like Vibe Youth CIC, Solo by Helen, and The Wallich have made significant strides with SPF grants. The impact of these funds is evident in revitalised community centres, new websites for businesses, and initiatives supporting vulnerable populations.
The debate around the effectiveness of SPF and LUF continues, with concerns raised about the shortfall compared to EU funding. The Welsh Government argues that Wales will receive £772 million less between 2021 and 2025 due to the funding transition. While some believe the funds benefit East Wales more than West Wales and the Valleys, others highlight the positive outcomes of individual projects.
Despite the ongoing discussions and varying opinions, organisations across Wales are leveraging SPF and LUF to drive positive change in their communities. From community centres to youth support programmes, the impact of these funds is visible in the transformation of facilities and services. As councils continue to navigate the post-Brexit funding landscape, the long-term implications of these funding streams remain a point of contention among policymakers and stakeholders.