European Structural and Investment Funds Debate
Full Debate: Read Full DebateLord Pearson of Rannoch
Main Page: Lord Pearson of Rannoch (Non-affiliated - Life peer)Department Debates - View all Lord Pearson of Rannoch's debates with the Department for Business, Energy and Industrial Strategy
(6 years, 8 months ago)
Lords ChamberMy 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.
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.
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.