All areas of the UK will receive a portion of the SPF via a funding formula. This money will then go straight to local places right across England, Scotland, Wales and Northern Ireland to invest in three priorities. The primary goal of the SPF is to build pride in place and increase life chances across the UK by:
- Boosting productivity, pay, jobs and living standards by growing the private sector
- Spreading opportunities and improve public services
- Restoring a sense of community, local pride and belonging
- Empowering local leaders and communities.