“We recognise that lots of organisations over the United kingdom that are in receipt of EU funding, or be prepared to start receiving funding, want reassurance concerning the flow of funding they#8217;ll receive.
Around £190m of this money have been earmarked for investment projects in Merseyside.
Within an advance statement delivered to the ECHO, Chancellor from the Exchequer, Philip Hammond stated: “The United kingdom is constantly have all the legal rights, obligations and benefits that membership brings, including receiving European funding, till the point we leave the EU.
The present ERDF programme is placed to operate until 2020. Since Britain is envisioned having left the EU before this, it had been feared a number of that EU cash could be withdrawn prior to the projects are completed.
The Treasury will announce today that it#8217;ll underwrite Eu funded economic development projects signed before year’s Fall Statement #8211; even when they continue past the date that Britain leaves the EU.
“That’s why I#8217;m verifying that structural and investment funds projects signed prior to the Fall Statement and Horizon research funding granted before we leave the EU is going to be guaranteed through the Treasury as we leave. The Federal Government may also match the present degree of farming funding until 2020, supplying certainty to the farming community, who play an important role within our country.
Merseyside projects allotted European Regional Development Fund (ERDF) cash include £5m for any new building to accommodate Sensor City, a partnership between your College of Liverpool and Liverpool John Moores College (LJMU) located in Liverpool’s Understanding Quarter.