Universities: EU Grants and Loans

HM Treasury written question – answered on 20th September 2017.

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Photo of Stephen Gethins Stephen Gethins Shadow SNP Spokesperson (International Affairs and Europe)

To ask Mr Chancellor of the Exchequer, if he will take steps to ensure that universities with European Investment Bank loans are not affected by changes in the legal terms of their loans as a result of the UK leaving the EU.

Photo of Stephen Barclay Stephen Barclay The Economic Secretary to the Treasury

Contracts signed between the European Investment Bank (EIB) Group and UK counterparties are matters for the parties. They do not contain any provisions relating to the departure of a member state from the EU. The UK is in the process of negotiating what its future relationship with the EIB will be, but the government is clear that the UK’s exit from the EU on its own does not change existing EIB Group contracts with UK counterparties.

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