Brexit: Government Guarantee for Post-EU Funds
Local Editor
EU funding for farmers, scientists and other projects will be replaced by the Treasury after Brexit, Chancellor Philip Hammond has said.
In a move which could cost up to £4.5bn a year, the Treasury will guarantee to back EU-funded projects signed before this year's Autumn Statement.
Agricultural funding now provided by the EU will also continue until 2020.
But governments in Scotland, Wales and Northern Ireland said the guarantee does not go far enough.
Voters backed leaving the EU in the 23 June referendum but Prime Minister Theresa May has indicated the UK government will not trigger Article 50, which would begin a two-year process to
leave, during 2016.
Hammond said EU structural and investment fund projects signed before the Autumn Statement later this year, and Horizon research funding granted before leaving the EU, will be guaranteed by the Treasury after the UK leaves.
The EU's 80bn euro [£69bn] Horizon 2020 program awards funding for research and innovation and is open to UK institutions while the country remains a member.
Source: News Agencies, Edited by website team
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