Tory 'Shared Prosperity Fund' branded an insult by former MEP

The Liberal Democrats have branded the 'UK Shared Prosperity Fund' from the Government as an insult as South Yorkshire will miss out on £103m funding.

By Sheffield Liberal Democrats, Jun 29, 2022 10:06

Bank notes and coins.

South Yorkshire will only be receiving £22 million in funding from the UK government, compared to the £125 million it was set to receive from the European Union. This represents a massive cut in funding for a region that desperately needs it. It is clear that the UK Shared Prosperity Fund is not an adequate replacement for EU funding.

This represents a massive cut in funding for a region that desperately needs more support, and it is clear that the UK Shared Prosperity Fund is not an adequate replacement for EU funding.

Former Lib Dem MEP and current Sheffield City Councillor Shaffaq Mohammed said, "The cost of living crisis is hitting people hard in South Yorkshire. Household incomes are struggling to keep up with the rising costs of essentials like food and energy. Yet despite all this, the Conservative Government has decided to effectively slash funding for South Yorkshire.

"Not only is this a massive loss for our region, the money we are getting is much harder for us to invest - and if it isn't spent in a time limit set by the Government, they'll claw it back!

"At the time of Brexit, Boris Johnson promised no one would lose out. Yet here we are facing a loss of £103m in South Yorkshire. The reality is that they simply don't care about the people of South Yorkshire."

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