Source · Select Committees · Treasury Committee
Recommendation 11
11
Paragraph: 77
The Spending Review described how levelling up was being incorporated into many aspects of government...
Conclusion
The Spending Review described how levelling up was being incorporated into many aspects of government policy. We await more specific detail on how levelling up will be measured and achieved. Rebadging existing programmes may not have the impact the Government is seeking.
Paragraph Reference:
77
Government Response
Acknowledged
HM Government
Acknowledged
I note the Committee’s conclusions on the Spending Review. We are exceeding our commitments to replace EU funding in full, with no reduction through the UK Shared Prosperity Fund (UKSPF). The UKSPF replaces the European Regional Development Fund (ERDF) and the European Social Fund (ESF). Over the last EU funding cycle, these funds were worth about £9 billion over seven years, or around £1.3 billion per year. The other European Structural and Investment Funds the Committee considers are being replaced in full elsewhere. It is also not the case that the spending power for the Department of Levelling Up, Housing and Communities is falling. Excluding Help to Buy, a time limited