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European Structural and Investment Funding

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The decision to leave the European Union in June has had a significant impact on the delivery of the ESIF programme both nationally and locally. Government has provided assurance that all grant funding agreements in place before the United Kingdom leaves the European Union will be underwritten by Government for the duration of the project even if Britain has left the EU. In his conference speech, the Chancellor set out that the guarantee for ESIF-funded projects announced in August will be extended to the point at which the UK departs the EU. This will provide further certainty to those organisations bidding for EU support whose projects meet domestic strategic priorities and deliver value for money. Each Government department will have responsibility for the allocation of money to projects in line with these conditions and the wider rules on public spending. The press release can be found here.

DCLG will therefore continue to work with areas to prepare further calls and funding agreements in line with the requirement to demonstrate value for money and fit into domestic spending priorities. Treasury has actioned Local Managing Authority teams to work with ESI Funds subcommittees in each LEP area to progress future calls for funding proposals information on the remaining activity and associated funding that might be signed after the Autumn Statement while we remain a member of the EU.

Across the two principle funding streams, £17.4m has been committed; approximately £9.7m ERDF and £7.7m ESF, equating  to approximately 50% of the allocation for the Solent . All £1.4m of EAFRD rural grant funding is now available through the national Rural Payments Agency programme.