As per the manifesto commitment, following our departure from the European Union, we are creating the UK Shared Prosperity Fund (UKSPF), a programme of investment to tackle inequalities between communities by raising productivity, especially in those parts of the UK whose economies are furthest behind.
In July, the Government published an update on the UKSPF in which we confirmed the Fund will operate in all four nations of the UK and will, of course, respect devolution settlements in Scotland, Wales and Northern Ireland.
The Government has been clear that we will engage the devolved administrations in advance of the public consultation intended for later this year, to ensure the Fund works for all places across the UK. Officials from HM Government and from each devolved administration have begun discussions and stakeholder events are being held across the UK, throughout the rest of this year.
We are continuing discussions to develop the Fund and final decisions on the operation and allocations of the Fund will be made as part of the 2019 Spending Review.
In the mean time, the Government understands that local authorities and places around the UK require certainty of funding post-Brexit. The draft Withdrawal Agreement guarantees that the UK will continue to take part in the 2014-2020 EU programmes until their conclusion. In a no deal scenario, the Government has extended this guarantee for the full EU 2014-20 programme period and allocations. This provides certainty and clarity in the event of a no-deal and allows for a smooth transition to a domestic replacement.