European Structural and Investment Funds

Lord Pearson of Rannoch Excerpts

Tuesday 12th December 2017 Lords Chamber

[Lord Henley]

My Lords, again I ask the noble Lord to listen to what I have to say. I gave a categorical guarantee about the financial settlement and structural funds that have been agreed as part of the 2014-20 funding. I do not know about the specific project to which the noble Lord referred, but if it is included, it will be guaranteed. We have also made a guarantee about a no-deal scenario that all projects that were signed up to before the Autumn Statement 2016 will be guaranteed by the Government after the United Kingdom leaves the EU.

[Lord Pearson of Rannoch (UKIP)]

My Lords, are we not talking about only £1.2 billion per annum in this Question? Surely we can go on paying that if we want to from the £20 billion per annum we will be saving by leaving the EU.

[Lord Henley]

My Lords, the noble Lord thinks that a billion pounds is a small amount of money. I think someone did once say, “A billion here, a billion there, and we are soon talking real money”. We are talking about considerable funds—some £8.6 billion over that period, which is a considerable amount.