- .Philip Hammond says projects receiving EU money will be fully funded
- .He pledges funding from the Common Agricultural Policy will continue
- .Scientists will have bids made to European Commission underwritten by Treasury
Philip Hammond says he will guarantee that projects receiving EU money will be fully funded, even after Britain has quit
Thousands of farmers, scientists and small businesses will not lose out financially in the wake of Brexit, the Chancellor pledges today.
Philip Hammond says he will guarantee that projects receiving EU money will be fully funded, even after Britain has quit.
He also pledges that payments made to farmers under the controversial Common Agricultural Policy will continue until 2020.
And scientists, who have complained bitterly about Brexit, will have any bids they make to the European Commission for grants underwritten by the Treasury.
Key projects supporting economic development across the country could be given the green light, ending uncertainty over their future after the decision to leave the EU.
No date has been fixed for the UK’s departure, but International Trade Secretary Liam Fox has said he expects it to be in early 2019.
Mr Hammond says: ‘The UK will continue to have the all of the rights, obligations and benefits that membership brings, including receiving European funding, up until the point we leave the EU.
‘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.‘That’s why I am confirming that structural and investment funds projects signed before the Autumn Statement and Horizon research funding (from the EU) granted before we leave will be guaranteed by the Treasury after we leave.’
He adds: ‘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.
‘We are determined to ensure people have stability and certainty in the period leading up to our departure from the EU and that we use the opportunities that departure presents to determine our own priorities.’
The Chancellor also pledges that payments made to farmers under the controversial Common Agricultural Policy will continue until 2020 (file picture)
His comments dispel some of the dire warnings delivered by Project Fear during the EU referendum campaign.
Former prime minister David Cameron, for example, said that if rural communities wanted certainty over their futures, they should vote Remain. He added: ‘I’m saying vote to stay in, keep the Common Agricultural Policy payments we get now, keep Europe’s markets open.’
Meanwhile, scientists, who get around £1billion a year for research from the EU, have repeatedly warned of post-Brexit doom and gloom.
Paul Boyle, vice-chancellor of Leicester University, called the referendum result a ‘dark day for UK science’.
Councils in regions such as the North East and Cornwall also voiced alarm about what would happen to EU structural funding paid to less prosperous parts of the UK. It helps to support small business, infrastructure, universities and broadband internet.
Before the June 23 decision, Vote Leave said money paid by the EU to farmers and others could readily be found from the £9billion Britain will no longer be paying into the EU as an annual membership fee.
Under the package unveiled today by the Treasury, all structural and investment fund projects signed before this year’s Autumn Statement will be fully funded, even when they continue beyond the UK’s departure from the EU.
Where British organisations bid directly to the European Commission for EU funding, for example universities participating in the Horizon 2020 science research project, the Treasury will underwrite the payments of such awards.
No comments:
Post a Comment