Member Article

North East LEP seeks reassurances over proposed EU-funded projects

With uncertainty shrouding the UK’s economic climate in the wake of Brexit, the region’s Local Enterprise Partnership is seeking reassurances that the government will deliver on projects funded through EU money.

Prior to the Referendum, the body had put £104.5m worth of projects, said to support over 7,400 businesses across the area, forward to the government for approval.

The North East LEP area has so far had £89.5m of its £437m EU structural funding committed to projects for the 2014-2020 period. However, should its latest proposals not come to fruition, plans estimated to get 30,000 local people into employment will be directly affected as a result.

Chair of the North East LEP Andrew Hodgson said: “We are hopeful that these projects will be honoured by Government and deliver important support to businesses and local people before Brexit happens.

“It is important to realise we will not be immediately losing the opportunities that EU funding has historically brought to the North East.

“Millions of pounds of projects are still likely to go ahead, bringing new jobs and closing the skills gap in the North East. The truth is that we just don’t know yet if or when we will see changes.

“EU funding has hugely benefitted the North East over the last few decades and we are lobbying Government for clarity and seeking assurances that any potential future funding gap will be filled.

“We urge the Government to provide this guidance quickly to ensure opportunities to create jobs and growth are not lost.”