Billions of pounds of EU funding has been earmarked for projects to create jobs and growth across England over the coming years. Now the UK is heading for the exit, what happens next?
BBC News looks at the numbers.
How much is involved?
The UK government says over the past nine years, EU investment has helped almost 25,000 businesses to start and created 115,000 jobs.
The EU allocated €6.2bn (currently worth about £5.2bn) to England between 2014 and 2020 under the European Regional Development Fund (ERDF) and European Social Fund (ESF). This was money from the EU’s budget to which the UK had contributed.
The latest tranche of money was divided up by the former Coalition government to boards known as Local Enterprise Partnerships (LEPs), which bring together local authorities and business leaders.
Some areas with greater need received a larger share per head of population than others.
For example, in Cornwall and the Isles of Scilly the funding was worth £1,070 per person over seven years, by far the biggest share. In Buckinghamshire and Thames Valley, it was just £26 per person.
The former received more because they are the only part of England whose economic performance was below 75% of the EU average. Previous funding rounds included £26m towards the costs of building The Eden Project.
How did areas with most funding vote?
Cornwall voted out. And now its council leader has called for that money to be guaranteed by the government.
And when the vote is broken down by LEP area, rather than by region, the five that received the most funding per head of population all voted Leave. However, four of the five areas that received the least funding per person voted to stay in.
What happens now?
Assurances are being sought that the money from the EU will be replaced …read more
Source:: BBC world news feed