Politics

UK guarantees funding for key North projects post Brexit

Current level of agricultural backing, will also be matched by the British government

British chancellor Philip Hammond said: ‘We recognise that many organisations across the UK which are in receipt of EU funding, or expect to start receiving funding, want reassurance about the flow of funding they will receive’. Photograph: Neil Hall/Reuters
British chancellor Philip Hammond said: ‘We recognise that many organisations across the UK which are in receipt of EU funding, or expect to start receiving funding, want reassurance about the flow of funding they will receive’. Photograph: Neil Hall/Reuters
Sat Aug 13 2016 - 10:12

EU structural and investment projects in Northern Ireland signed before the British chancellor of the exchequer's autumn statement will be guaranteed after Brexit, the Treasury in London has said.

The current level of agricultural backing, which underpins the farming industry, will also be matched by the British government until 2020.

Europe’s programme for entrenching the peace process through community development is due to run until 2020. The future of a programme designed to pump €17 million into groups which help victims of the conflict had been in doubt, it has been claimed.

However, Chancellor Philip Hammond said: “We recognise that many organisations across the UK which are in receipt of EU funding, or expect to start receiving funding, want reassurance about the flow of funding they will receive.

READ MORE

“That’s why I am confirming that structural and investment funds projects signed before the autumn statement and Horizon research funding granted before we leave the EU will be guaranteed by the treasury after we leave.

‘Vital role’

“The Government will also match the current level of agricultural funding until 2020, providing certainty to our agricultural community, who play a vital role in our country.”

It is expected that:

All structural and investment fund projects, including agri-environment schemes, signed before the chancellor’s autumn statement on the budget will be fully funded, even when these projects continue beyond the UK’s departure from the EU;

The treasury will also put in place arrangements for assessing whether to guarantee funding for specific projects that might be signed after the autumn statement, but while the UK remains in the EU;

Where UK organisations have bid directly to the European Commission for EU funding projects while the UK is still a member of the EU, for example universities participating in Horizon 2020, the treasury will underwrite the payments of such awards, even when specific projects continue beyond the UK’s departure from the EU.

While the UK voted to leave the EU by 52 per cent to 48 per cent, 56 per cent in Northern Ireland voted to remain.

Stormont’s first and deputy first ministers Arlene Foster and Martin McGuinness recently registered their concerns with the British prime minister over the future of projects relying on EU money. Northern Ireland receives approximately 10 per cent of the UK’s cash from the Common Agricultural Policy.

EU funding has helped build the Peace Bridge over the Foyle in Derry and boosted transport links between Belfast and Dublin. It has supported scores of community groups working in some of the most deprived parts of Northern Ireland.– (PA)