Even accounting for inflation, they are receiving an additional £3 million in 2024-25 than in 2014-15. The budget settlement for 2024-25 announced on 19 December recognises the increasing level and quality of work being delivered by SEPA which is why despite such challenging financial circumstances, the organisation will benefit from a 5% uplift on the 23/24 budget allocation to its core funding, bringing its core budget to £52.6m in 2024-25.