Extension to Treasury EU Funding Guarantee
The UK Treasury has announced an extension to its EU Funding Guarantee. Any EU funding secured by UK organisations from now until the end of 2020 will be guaranteed by the UK government, even in the case of the UK leaving the EU without a Brexit deal.
The guarantee applies to the UK’s full allocation for European Structural and Investment Funds until the end of 2020 and to funding successfully bid for through the centrally-managed competitive programmes such as Horizon 2020. This means organisations in Scotland can continue to bid for EU funding beyond the UK’s exit from the EU in March 2019.
The Chancellor of the Exchequer, Philip Hammond said:
“We continue to make positive steps towards getting the best possible deal with the EU – one that works for the whole of the UK. The guarantee we are making today however means that, even in the unlikely event of a no-deal, our businesses, universities and local authorities can be confident that they will continue to receive the funding they successfully bid for from any EU programme.”
More information from the UK Government is expected in the coming days. Scotland Europa will update this article when that information is available. If you have any questions or comments in the meantime, please get in touch.