Decision
Analysis
outcome: The spend has been authorized and proposals for spending the allocation on Supporting Local Business, Communities and Place, and People and Skills activities have been noted.
summary: The decision involves authorizing the spend of Lambeth's £983,639 UK Shared Prosperity Fund allocation for various activities in the financial year 2025/26.
topline: The Cabinet Member for Economic Inclusion has decided to authorize the spend of Lambeth's £983,639 UK Shared Prosperity Fund allocation for various activities in the financial year 2025/26.
reason_contentious: This issue may be contentious as it involves the allocation of a significant amount of funding and may impact various stakeholders in the community.
affected_stakeholders: ["Local businesses", "Communities", "Skills development programs"]
contentiousness_score: 6
political_party_relevance: There are no explicit mentions of political parties in the decision.
URL: https://moderngov.lambeth.gov.uk/ieDecisionDetails.aspx?ID=10007
Decision Maker: Cabinet Member for Economic Inclusion
Outcome:
Is Key Decision?: Yes
Is Callable In?: Yes
Purpose: A cabinet member decision is required to formally consider the proposed allocation of Lambeth’s UKSPF direct allocation for 2025/26. Lambeth will receive up to £983,600 of UK Shared Prosperity Funding for the financial year 2025/26 - up to £656,800 of capital funding and up to £326,800 of revenue funding. This funding will be used to support activity across our three priority growth sectors (Creative Economy, Life Sciences and Green Economy). Focussing on these sectors will create significant opportunities for Lambeth’s local entrepreneur and business networks and at resident level will also help generate well paid and sustainable job growth in the borough.
Content: 1. To authorise spend of Lambeth’s £983,639 2025/26 UK Shared Prosperity Fund allocation from the Greater London Authority (GLA) for the delivery of activity during the grant period across the financial year 2025/26. 2. To note the proposals for spending the £983,639 UK Shared Prosperity Fund allocation for the delivery of Supporting Local Business (SLB), Communities and Place (C and P) and People and Skills (P and S) activity during the grant period across the financial year 2025/26. 3. To sign off the overall UKSPF spend across the financial year 2025/26 at Spend Review Panel and to provide delegated authority to the Director of Economy, Culture and Skills to oversee and approve the selection of projects for funding, procurement and delivery of activities under the UK Shared Prosperity Fund programme in consultation with the Cabinet Member for Economic Inclusion.
Date of Decision: August 1, 2025