The most important part of addressing regional inequality in the UK is funding. The new UK Shared Prosperity Fund (UKSPF) is due to launch in April 2022. But what the government seem keen to hide is that this is just a replacement for EU structural funding that will soon end. The EU's European Regional Development Fund and European Social Fund are allocated by looking at per capita GDP by region, and then member state governments have discretionary powers to reallocate some funds between regions. The UK used these powers to reassign some funds from England to Scotland, Wales and Northern Ireland. We also had an agreement for funds to be administered by our devolved governments. These two funds together support innovation and research, information technology, small- and medium-sized enterprises, employment-related projects and vocational skills training, including youth employment, as well as the promotion of a low-carbon economy. For the seven-year tranche of funding 2014-2020, t...