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National Strategy for future EU Structural Funds spending in the UK - Oct 2006 |
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National Strategy for future EU Structural Funds spending in the UK - Oct 2006The Government has recently announced how €9.6 billion of European Structural Funds will be distributed across the United Kingdom over the next seven years.
Every region of the UK will be given a share of European money, according to how much they need it, on a formula worked out after a detailed consultation earlier this year.
When the allocations were announced by Brussels at the end of last year, the UK received a total of €9.6 billion for 2007 to 2013. In the current seven year period the UK was given €15.85 billion.
Margaret Hodge, Minister of State for Industry and the Regions, said:
"All the richer countries in Western Europe have been allocated a reduced slice of the cake this time round. That is partly because the British economy has been such a success in the last seven years and partly to allow money to be given to the new states joining in Eastern Europe.
Our job has been to make sure this European funding is distributed around the United Kingdom in the best way to ensure that all parts of the country benefit from our increased economic prosperity and employment.
We are confident the rules we have drawn up will mean the money is used in the fairest way for every region. No one is excluded.
Whilst we are proud of our economic record, we know we have more to do to tackle regional disparities in economic performance. These funds will help us to bring the performance of our poorest regions up to the performance of the best.
It is only by doing this that we can increase the UK's long-term growth rate and ensure jobs and prosperity in every region. That is why it was vital to establish the right framework.
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UK Regional Grants 