Forth Valley to lose out on £77 million of EU funding after Brexit

A new publicly accessible database has laid bare the financial impact that leaving the EU will have on areas around the UK, with local area facing losses to funding of around £77 million.

 

The figures show that the EU has invested around £77 million in area in 2017, via projects such as:

£17,107,066 for 578 local farmers;

£19,570,416 to support 78 research projects;

£5,222,578 through Erasmus+, supporting education, training and youth projects;

£35,313,007 to support 19 projects to create jobs and boost growth.

 

The EU invests around £5 billion a year in the UK, and the European single market is around eight times bigger than the UK market alone.

 

Last week, the SNP announced that up to £18 million of European cash would be used by the Scottish Government to set up an Advanced Manufacturing Fund to help small and medium sized businesses.

 

SNP MSP for the Stirling Constituency, Bruce Crawford said:

 

“As these figures show, the Stirling area has benefited hugely from the strong relationship between Scotland and the European Union.

 

“EU funding has made a huge contribution to infrastructure, culture, and opportunities in Scotland. This is just the latest analysis which confirms that Brexit is going to inflict major harm on our economy.

 

“Far from delivering extra cash for the NHS, as was infamously promised by the leave campaign bus, Scotland faces losing out on billions of pounds of funding with no clarity from the UK government over how this will be replaced.

 

“We are being dragged out of the European Union against our will, and our area will be hugely damaged because of this. The only solution is to stay in the single market and customs union.”