Following his announcement in August, which guaranteed funds for projects signed up until the Autumn Statement, the Chancellor has now extended this guarantee to the point at which the UK departs the EU.
The Chancellor confirmed that the government will guarantee EU funding for structural and investment fund projects, including agri-environment schemes, signed after the Autumn Statement and which continue after we have left the EU.
He was clear, while the UK is still a member of the EU, British businesses, farmers and other organisations must be entitled to apply for EU funds.
Funding for projects will be honoured by the government, if they meet the following conditions:
- they are good value for money
- they are in line with domestic strategic priorities
As a result, British businesses, farmers and other organisations will have additional certainty over future funding and should continue to apply for EU funding while the UK remains a member of the EU.
Each government department will take responsibility for the allocation of money to projects in line with these conditions and the wider rules on public spending.
Further information:
The structural and investment subject to HM Treasury’s assurances include:
European Agricultural Fund for Rural Development – CAP Pillar 2
European Social Fund
European Maritime and Fisheries Fund
European Regional Development Fund - including European Territorial Cooperation
Further information can be found here - Government press release