News: EU Funding Latest

Posted on 29th August 2016

Dear Stakeholder,

 

As you are aware the Treasury recently set out a number of assurances in relation to EU funding.

 

Below is a summary and a link through to the official Treasury Statement and David Gauke letter, which I hope you will find useful.

 

Summary

 

All European Structural and Investment Funds (ESIF) projects with signed contracts or funding agreement in place prior to the Autumn Statement will be fully funded, even if these projects continue beyond the UK’s departure from the EU.

 

This includes projects funded through:

  • The European Regional Development Fund (ERDF), including the European Territorial Cooperation (INTERREG);
    • The European Social Fund (ESF);
    • The European Agricultural Fund for Rural Development (EAFRD) and
    • The European Maritime and Fisheries Fund (EMFF).

The Treasury will also put in place arrangements for assessing whether to guarantee funding for specific ESIF projects that might be signed after the Autumn Statement but whilst the UK remains a member of the EU. The Treasury will provide further details of these arrangements ahead of the Autumn Statement.
In addition, whilst the UK remains a member of the EU, UK organisations are still able to bid for European funds administered directly by the European Commission (such as Horizon 2020). The Treasury will underwrite the payment of grant awards through these funding programmes, even if projects continue beyond the UKs departure from the EU.
Furthermore, the Treasury is providing a guarantee that the current level of funding to the agricultural sector under Pillar 1 of the Common Agricultural Policy will be upheld until 2020.

The full Treasury statement can be found here.
Coast to Capital LEP welcomes these Government commitments. We will continue to actively engage with Government Departments to press the need for continued investment in local growth initiatives, including in ESIF projects signed after the Autumn Statement.

 

Best regards,

 

Matthew Heath 

ERDF Project Manager 

Coast to Capital LEP

Mobile: 07557 398996

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