As COSLA noted in its paper “Replacing EU Structural Funds”, the quantum that the Chancellor of the Exchequer has offered confirms that the UK shared prosperity fund “will only meet the previous ministerial Commitment of £1.5bn per annum in 2024-25, only issuing £400m in 2022-23 and £700m in 2023-24.” COSLA also stated: “It is worth noting that to meet the UK Ministerial commitment of £1.5bn per year from 2022, the Autumn budget proposal amounts to a net loss of £1.9bn for 2022-2024.”