The Rural England Prosperity Fund
Knight Frank has mapped which parts of the UK will receive most support from a new rural grant
1 minute to read
Aside from the support payments received directly by farmers via the EU’s Common Agricultural Policy, a significant amount of funding through various other European schemes such as LEADER found its way into the UK’s countryside to support rural development initiatives.
How that cash would be replaced post-Brexit was a concern for many, but now the government has released further details for English local authorities. A £2.6 billion Shared Prosperity Fund had already been announced earlier this year, but this has been topped up by £110 million of additional funding – the Rural England Prosperity Fund - targeted specifically at rural communities in qualifying local authorities. Our map shows which parts of England will receive most funding.
The fund will provide capital funding to support new and existing rural businesses to develop new products and facilities that will be of wider benefit to the local economy. This includes farm businesses looking to diversify income streams.
It will also support new and improved community infrastructure, providing essential community services and assets for local people and businesses to benefit the local economy. According to the government, the funding should not replace funding plans for rural areas under the UKSPF. It is a top-up to help address the extra needs and challenges facing rural areas.
“The parameters of the scheme are very wide ranging so it’s a great opportunity for rural businesses to get some extra support,” points out Henry Clemons of our Agri-consultancy scheme.
If you need help with this and any other rural grant schemes, please contact Henry.