HM Treasury has guaranteed to underwrite all European structural and investment fund projects approved or due to be approved during the ordinary course of business before the UK exits the EU. This guarantee also covers the common agricultural policy, the European territorial corporation programmes, including the Ireland-Wales programme, and the funding awards under the EU’s directly managed programmes, including Horizon 2020. There you have it. The Government’s own response to recommendation 5 of this report: a categorical statement that there will be no change to funding until 2020.