Government ‘Guarantee’ post-EU funds after Brexit occurs


It has been announced today that EU funding, which the UK receives as a member that will consequently be lost after Brexit occurs, given to organisations involving farming, scientists and others, will be replaced by the Treasury, Chancellor Philip Hammond has said.

Brexit could cost up to £6bn a year in losses of funding, but the Treasury will guarantee to back EU-funded projects signed before this year’s Autumn Statement.

The BBC have stated that agricultural funding which is now provided by the EU will also continue until 2020.

However, critics said the guarantee does not go far enough and there was ‘continued uncertainty’.

Voters ultimately backed to leave the EU in the 23 June referendum by 3.8%, but Prime Minister Theresa May has indicated the UK government will not trigger Article 50, which would begin a two-year process to leave, during 2016.

Furthermore, Mr Hammond has said “EU structural and investment fund projects signed before the Autumn Statement later this year, and Horizon research funding granted before leaving the EU, will be guaranteed by the Treasury after the UK leaves.”

The BBC have also said ‘the EU’s 80bn euro (£69bn) Horizon 2020 programme awards funding for research and innovation and is open to UK institutions while the country remains a member.’

The chancellor responded to critics by saying the government was “determined to ensure that people have stability and certainty in the period leading up to our departure from the EU”.

The Treasury said it would assess whether to guarantee funding for certain other projects “that might be signed after the Autumn Statement, but while we remain a member of the EU”.

Currently, farmers receive subsidies and other payments under the EU’s Common Agricultural Policy (CAP).

It’s said that they get about £3bn a year in subsidies, with the biggest farmers pocketing cheques of £1m. The grants are given for owning land and also taking care of wildlife.

The National Farmers’ Union (NFU) said the Treasury’s announcement was “positive” for farming.

Other examples of projects that have received, or are due to receive regional development fund money, include:

  • £5m for the Graphene Engineering Innovation Centre at the University of Manchester
  • £9m for the manufacturing growth programme to support areas in the Midlands, Yorkshire and the Humber and the East of England
  • £3m for a new life sciences incubation and innovation centre at Porton Down in Wiltshire

(BBC 2016)

Reportedly, the UK currently pays money into the EU budget, which will stop once it formally leaves.

In 2015 the UK Government paid in £13bn; EU spending on the UK was £4.5bn, meaning the UK’s net contribution was estimated at about £8.5bn, or £161m a week.

The UK private sector receives a further £1-1.5bn annually in EU funding.

What do you make of the Governments post-EU promisees?

Is the affordable for the UK to do? Will this mean Taxation and further Austerity cuts? Are these promises realistic?

Comment below your views on the post-EU funding plans


Despite subsidy cut and a VAT hike, Solar energy is still effective, quotes trade body

Source: The Guardian

The Guardian state that the Trade body industry says ”solar panel installation is still attractive for consumers, but average payback period will almost double.”

The Guardian further this, to state ”the cost of solar panels could soon go up by as much as £900 for the average home, after the government said they should no longer qualify for a lower rate of VAT, because of EU state aid rules.”

Whats’s your view on this? Is the installation of solar panels still effective for households, despite rise in costs? Do they save more money for owners to consider them effective? Will the rise on solar panel costs effect sales and efficiency of them at all overtime? Is it fair to raise solar costs for owners of solar energy?

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NHS Bosses fear that elderly patients will continue on refusing to leave hospitals, due to high care costs

Source: The Telegraph

As the Telegraph States in its article title, ”Elderly patients are refusing to leave hospital because of care costs, NHS bosses fear”

This is causing ”A bed-blocking crisis is gripping NHS hospitals because pensioners do not want to pay for care, senior NHS bosses have warned, as figures show all-time high”(The Telegraph 2016).

In fact, ”In November last year, there were 153,000 days of delays in NHS hospitals lost to “bed blockers”, who were medically fit to leave, which is …the second highest figure on record.” (The Telegraph 2016)

What’s your view on this? Do the Government need to change the costs of care rates for the elderly, to free up hospital space and decrease so called ‘bed-blockers’? How much does this effect the NHS? 

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Three guilty over Hatton Garden’s £14m burglary

Source: The BBC

As the BBC outlines, ”Three men have been found guilty of their involvement in the “largest burglary in English legal history.”

The BBC furthers this to quote, ”During the raid the gang used heavy cutting equipment to get into a vault at the Hatton Garden Safe Deposit Ltd and ransack 56 safe deposit boxes.”

”Gold, diamonds and sapphires, together worth up to £14m, were taken. Two thirds of the valuables remain unrecovered.” (BBC 2016).

What’s your view on this? How long should these men serve for their crimes? Does this make you feel safe with your belongings at home, with the fact that three men can sufficiently steal from one of the most highly secure building’s in the UK, without notice until weeks, to months afterwards? Does this show that despite the ever growing securitization rates in the UK, people can still commit heavy crimes like the Hatton Garden’s burglary? Do the government need to do more?

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