EU Grants and Loans

Treasury written question – answered on 16th September 2020.

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Photo of Baroness Eaton Baroness Eaton Conservative

To ask Her Majesty's Government what plans they have to provide domestic replacements for each of the funding streams that the UK receives from the EU.

Photo of Lord Agnew of Oulton Lord Agnew of Oulton Minister of State (HM Treasury), Minister of State (Cabinet Office)

Having left the EU, from 2021 the UK will no longer contribute to the EU budget as a Member State, leaving only payments due as part of Financial Settlement obligations. As set out at Spring Budget 2020, the government has accounted for this when setting its spending plans, allowing it to determine how an additional £14.6 billion of spending by 2024-25 can be allocated to its domestic priorities, rather than be sent in contributions to the EU. This will be allocated as part of the overall spending envelope at the Comprehensive Spending Review, and will include meeting our commitments to replace the Common Agricultural Policy and EU structural funds.

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