BUT government fund designed to replace EU grants lost due to Brexit have been criticized as “nothing more than a disgrace”, which will leave the English regions in the dozens of millions of pounds worse off than when Britain was in EU.
The 2019 Conservative manifesto promised “at a minimum” match average EU subsidy of about £1.5bn a year year to help the worst parts of United Kingdom.
But the details of in governmentCommon Prosperity Fund show what will he convey out only £2.6 billion over in next three years and no match previous level of EU funding of £1.5 billion a year year until 2025.
The settlement was heavily criticized by think tanks and political leaders, including Wales. government, which said that this was due to the loss out on more than £1 billion in financing over in next three years.
Think tank IPPR North reported that the government’s Common Prosperity Fund has shrunk by 43%. in real terms compared with average annual EU grants of £1.5 billion between 2014 and 2020.
Dan Jarvis, mayor of South Yorkshire, said his region owed £900 million in financing match what would she get if the UK stayed in EU. However, received little more than £38 million over three-year period.
He said: “This announcement nothing more than indignation; cynical Conservative scam that completely fails South Yorkshire and leads coach and horses through the government leveling-up agenda.”
The Department for Leveling Up insisted that it “delivered on UK governmentcommitment match average expenses of EU Structural Funds, balancing the EU’s £1.5bn in 2025. It states that districts will continue to receive EU funding until the end. of 2024.
However, regional leaders and policy experts accused government of using “smoke and mirrors”, counting the old EU money over in next two years.
The Northern Power Plant Partnership, led by former Conservative chancellor George Osborne said that the regions in in north of England will receive up up to 37% less funding under new government funds than they could from the EU.
AT north- East England, one of the poorest regions of UK, that made the difference of £71.3m over in next three years, as they say.
Henri Murison, director of Northern Powerhouse Partnership, said: “We were promised that no nation would be worse off post-Brexit, but when will you take out smoke and mirrors, the data don’t lie.
“These funds have helped young people find worksupported small businesses and supported vital medical research – cutting it will be disastrous for our economy”.
Neil O’Brien, pumping up minister, took on twitter on from Thursday to protect schemainsisting that government there was “compliance in real terms that everyone place there is on average of [2014-2020] program”.
However, this includes counting of old EU money still delivered to these areas. IPPR North said the government’s promise match EU funding was “far from reality” in two out of in next three financial years.
It describes announcement like “a serious blow for alignment up“It would stifle ambitious long-term investments. While EU grants were given over seven years, Common Prosperity Fund model is an for only three years.
Michael Gove, leveling up secretary said: “The UK Commonwealth Fund will help unleash creativity and talent of communities that have for been neglected and underestimated for too long.”