Disadvantaged: EU Grants and Loans

(asked on 6th October 2017) - View Source

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, if the Government will guarantee a six year funding period for the Shared Prosperity Fund to provide disadvantaged communities with funding equivalent in real-terms to that currently provided by means of the European Social Fund.


Answered by
Elizabeth Truss Portrait
Elizabeth Truss
This question was answered on 16th October 2017

The Government made a manifesto commitment to use the EU structural and investment fund money returning to the UK after the UK leaves the EU to create a UK Shared Prosperity Fund. The manifesto commitment pledged to consult widely ahead of an announcement on the design or scope of the fund.

In October 2016 the Chancellor confirmed that HMT would guarantee funding for all multi-year ESIF projects signed ahead of the point at which the UK leaves the EU. Funding will be honoured provided that the relevant government department considers the project to provide good value for money and be in line with domestic strategic priorities.

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