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 Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam