Question

To ask Her Majesty’s Government whether they plan to divert part or all of the £160m JEREMIE (Joint European Resources for Micro to medium Enterprises) 2 fund, succeeding the Finance for Business North East fund, to other Northern areas described as part of the Northern Powerhouse; and if so, what proportion of funding will be diverted, and why they are taking such action.

The Government has no intention of imposing any arrangements for the next round of ERDF ‘JEREMIE’ style Access to Finance funds that do not carry local support.