Hammond confirms funds post-Brexit for projects

EU structural and investment projects in Northern Ireland signed before the Chancellor's Autumn Statement will be guaranteed after Brexit, the Treasury said.
By The Newsroom
Published 13th Aug 2016, 06:00 BST
The First and Deputy First Ministers have outlined their concerns about the UKs Brexit strategy with Prime Minister Theresa MayThe First and Deputy First Ministers have outlined their concerns about the UKs Brexit strategy with Prime Minister Theresa May
The First and Deputy First Ministers have outlined their concerns about the UKs Brexit strategy with Prime Minister Theresa May

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

Europe’s Peace 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 euro into groups which help victims of the conflict had been in doubt, it has been claimed.

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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.

“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.

“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.”

Assurances expected from the Treasury include one 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.

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Stormont’s first and deputy first ministers Arlene Foster and Martin McGuinness recently registered their concerns with the Prime Minister over the future of projects relying on EU money.

Northern Ireland receives approximately 10% of the UK’s cash from the Common Agricultural Policy (CAP).

Related topics:Northern IrelandGovernmentEurope