Sep292019

Javid: £4.3bn in Brexit guarantee funding for EU programmes

Conservatives
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The
Chancellor has today announced a guarantee, which the Treasury has estimated at
£4.3bn in 2019-20, to organisations that have been granted funding under
certain EU programmes, if the UK leaves without a deal on 31st
October. 

  • In
        the event it is needed, the funding will be allocated to departments and
        devolved administrations and amount to £4.3bn in 2019-20, and £16.6bn
        overall, leading up to 2029. 
  • The
        guarantee provides assurance to UK organisations that currently receive EU
        funding, such as charities, businesses and universities, as the UK leaves
        the EU and begins to design its own, better targeted and more impactful
        funding programmes. 

 

The
announcement today fulfils the Government’s commitment to reassert control over
of British taxpayers’ money and spend it according to the country’s priorities
and needs. The UK is currently the second biggest net contributor to the EU
after Germany.

Today’s
announcement builds on previous assurances given by the former Chancellor of
the Exchequer.

Chancellor
of the Exchequer, Sajid Javid, said:

“We’re
working tirelessly to get a deal with our EU friends and partners, and our
preference remains to leave with a deal, but we will do everything possible to
ensure we are prepared for Brexit on 31st October, whatever the
circumstances. This guarantee for certain EU-funded programmes is another
important step in providing the certainty to citizens and organisations across
the UK.”

ENDS