UK Government guarantees continuation of funding for EU funded projects post-Brexit

modern-artworkThe Treasury has released a statement guaranteeing the continuation of funding for currently running EU funded projects until their completion, post Brexit. This statement covers Horizon 2020, the European Structural and Investment Funds, and a number of other schemes.

The statement says “in the short term, I can confirm that the Treasury will give an assurance that all multi-year projects administered by government with signed contracts or funding agreements in place, and projects to be signed in the ordinary course of business before the Autumn Statement, will be fully funded, even when these projects continue beyond the UK’s departure from the EU”.

For competitive EC funding such as Horizon 2020, it states that “the Treasury will underwrite the payment of such awards, even when specific projects continue beyond the UK’s departure from the EU. The UK will continue to be a world leader in international research and innovation collaboration, and we expect to ensure that close collaboration between the UK and the EU in science continues”.

It also states that leaving the EU means the UK government will want to take its own decisions about how to deliver the policy objectives previously targeted by EU funding. In addition, there will be a consultation with stakeholders over the coming months to review all EU funding schemes to ensure that any ongoing funding commitments best serve the UK’s national interest.

In the weeks after the Brexit referendum, the European Commission also reiterated that the referendum result did not change the UK’s eligibility for EU funding and that UK universities and businesses should continue to bid for such funding.