UK Risks Losing EU Funding

Britain risks losing 40 billion euros ($42 billion) of direct funding from the European Union once it leaves the bloc, according to U.K. parliamentary analysis.

The European Structural and Investment Funds, which help develop the most deprived regions, and the European Agricultural Guarantee Fund that supports the Common Agricultural Policy are set to provide the U.K. with 17.2 billion euros and 22.5 billion euros respectively between 2014 and 2020, a report published by the House of Commons Library shows.

British businesses also benefit from as much as 1.5 billion pounds ($1.8 billion) of research and innovation funding annually, while domestic projects can access money from the European Investment Bank. Britain paid about 13 billion pounds to the EU budget in 2015.

Bloomberg

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.