Shared Prosperity Fund

Part of Oral Answers to Questions — Finance – in the Northern Ireland Assembly at 2:45 pm on 16 September 2024.

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Photo of Caoimhe Archibald Caoimhe Archibald Sinn Féin 2:45, 16 September 2024

From memory, the European regional development fund (ERDF) and the European social fund (ESF) jointly provided the Executive with about £65 million per year. In comparison with that, the Shared Prosperity Fund provides an annual average of about £35 million. That leaves a real funding gap of about £30 million annually, and that is before inflation or anything else is taken into account. In my meetings with the British Government, as in all the representation that we have made previously, we will seek full replacement of funding that we used to get from EU sources, including an inflationary increase.