Derby City Council has approved nearly £3.3 million in government funding to support local economic growth in the 2025/26 financial year. The funds come from the UK Shared Prosperity Fund (UKSPF) and will be distributed through the East Midlands Combined County Authority (EMCCA).
The UKSPF, initially launched in 2022 with a £2.6 billion budget, aims to support communities, local businesses, and workforce development. The government has extended the programme for another year, allocating £902 million nationwide as part of a transition agreement.
Derby’s funding allocation remains in line with previous years, reflecting a redistribution based on deprivation levels. The funds will strengthen local businesses, improve employability and skills, and support community initiatives.
Derby City Council emphasised the funding’s importance in maintaining economic stability and continuing investment in key areas amid ongoing budget pressures and potential future funding reforms.
