During the Autumn Budget, the UK Government announced an extension of the UK Shared Prosperity Fund for the 2025-26 fiscal year, with a reduced allocation of £902 million.

Monmouthshire County Council, like all local authorities across the UK, will face a decrease in its allocated Shared Prosperity Fund for 2025-26. Specifically, Monmouthshire County Council has experienced a 46% reduction in funding since 2024-25, significantly impacting all organisations and projects supported by the fund.

Due to this funding decrease, the existing level of financial support for Together Works in Caldicot will not be possible for 2025-26. The Shared Prosperity Funds are allocated annually, with business cases assessed by the Monmouthshire People & Place Partnership.

We remain committed to collaborating with the Gwent Association of Voluntary Organisations (GAVO) to secure the necessary funding to manage the transition towards assuring continued access for community groups in the absence of SPF funding. Monmouthshire County Council and GAVO can confirm that during 2025-26, £46,000 will be available to assist with the transition to a self-sustaining business model for the future.

MCC and GAVO are exploring options to ensure the building will remain available for existing and future community groups. The vibrant community spirit in Caldicot is reflected in the numerous groups actively supported throughout the town. The council and GAVO are committed to helping these community groups and will strive to provide the best possible assistance during this transitional period for any groups impacted by this outcome.