(4 years, 3 months ago)
Commons ChamberThis Government believe in respecting the results of democratic referendums. Leaving the European Union has provided us with an opportunity to align the objective of the EU structural funds with domestic priorities, while continuing to support vital jobs and growth opportunities across the United Kingdom. The new UK shared prosperity fund will be our vehicle for delivering that. UK Government officials regularly speak to their counterparts in the devolved Administrations about this and other issues.
This vague waffle on timelines and content just will not cut it. The UK has received over €10 billion in structural funding since 2014 as an EU member, and it is now staring at economic disaster, with no information on what will replace those funds. Will the Minister guarantee today that the shared prosperity fund will not result in areas such as Fife seeing any reduction in funding?
The 2019 Conservative party manifesto committed at a minimum to matching the size of EU structural funds in each nation. It is very important that we get these decisions right. This is, after all, an enormous sum of money—our money—sent formally to the EU and then top-sliced and sent back to us with conditions. I very much look forward to controlling it for ourselves.