The Fund will operate UK-wide and use the financial assistance powers in the UK Internal Market Act 2020 to deliver funding to places across the UK. In addition to devolved administrations’ existing powers, this allows the UK government to complement and strengthen the support given to local people, businesses and communities in Scotland, Northern Ireland and Wales, as well as England.
8.1 England, Scotland and Wales We will pay each lead local authority in England, Scotland and Wales annually in advance. In 2022-23, funding will be paid once the local investment plan has been signed off. In 2023-24 and 2024-25, we will pay at the start of the financial year. Lead local authorities will receive a grant determination letter and Memorandum of Understanding setting out Fund requirements and obligations. Lead local authorities will be asked to return any underspends at the end of each financial year. Lead local authorities in Scotland and Wales will receive a Multiply allocation as part of their annual payment. We will require separate reporting and monitoring for this amount. We expect Fund investment and outputs to be achieved in line with each place’s investment plan, on time and in-year. We reserve the right to withhold or delay payment and alter payment cycles from 2023-24 onwards where there are performance or other issues with delivery.
8.2 Northern Ireland It is our intention to support delivery and we propose to pay direct project deliverers (including Multiply deliverers) in Northern Ireland in advance, on a six monthly cycle. This may be paid via a grant funding agreement or an agreed alternative approach, depending on a number of factors including the status of the delivery body. This will be guided by the agreed investment plan for Northern Ireland. Each project deliverer will receive a clear statement of Fund requirements and obligations. We expect Fund investment and outputs to be achieved in line with each intervention’s agreed application and spend and output profile. Here, we also reserve the right to withhold or delay payment and alter payment cycles where there are performance or other issues with delivery. We set out in section 9 how we will measure performance.