UK Prosperity Fund - Governance

Who decides how the fund is spent?

To unlock our £2.5m allocation, HM Government asked us to prepare an investment plan that identifies key challenges and opportunities in the borough. To help us do this, we worked with stakeholders who provided local insight and expertise. These stakeholders form the Town Deal Board.

The investment plan told the Government how much we are going to spend on each investment priority and why. The Government approved the investment plan in December 2022.

The Council decides what projects to fund based on the approved investment plan and following advice from Redditch Town Deal.

What is the Redditch Town Deal?

The Town Fund is a government funding scheme intended for towns to improve their economy. The Town Deal board is made up of representatives from a number of organisations including:-

• North Worcestershire Economic Development and Regeneration
• Redditch Member of Parliament
• Redditch Borough Council
• Mettis Aerospace
• Worcestershire Local Enterprise Partnership (Worcestershire LEP)
• YMCA
• Worcestershire County Council
• Young Solutions
• Heart of Worcestershire College
• Cities and Local Growth Unit

The representatives from the Borough Council are the Leader of the Council and the Deputy Chief Executive.

A UKSPF Task and Finish Group under the Redditch Town Deal has been set up, made up of Board members, representing the following sectors: voluntary and community sector; education and skills; housing. Redditch Borough Council, as the lead authority, is also represented. In addition, Worcestershire Local Enterprise Partnership (WLEP) has been co-opted to the Task and Finish Group to represent businesses.

Further information can be found in the terms of reference together with extracts of minutes relating to the UKSPF.

How do we decide what projects to fund?