In relation to the Chancellor’s announcement regarding guarantees over EU funding, the Chancellor has confirmed that:

-         All European Structural and Investment Funds projects, including agri-environment schemes, signed before Autumn Statement will be fully funded, even when these projects continue beyond the UK’s departure from the EU.

-         The Treasury will also put in place arrangements for assessing whether to guarantee funding for specific structural and investment fund projects that might be signed after the Autumn Statement, but while we remain a member of the EU. Further details will be provided at the time of the Autumn Statement.

-         Where UK organisations bid directly to the European Commission on a competitive basis for EU funding projects while we are still a member of the EU (e.g. universities participating in Horizon 2020) the Treasury will underwrite the payments of such award, even when specific projects continue beyond the UK’s departure from the EU.

-         The Treasury will guarantee that the current level of funding under the Common Agricultural Policy Pillar 1 will be upheld until 2020 as part of the transition to new domestic arrangements.

For further details, please see the HM Treasury Release.