To ask Mr Chancellor of the Exchequer, with reference to his announcement on EU regional funding dated 3 October 2016, what conditions will need to be passed by funding projects to ensure they are (i) good value for money and (ii) in line with domestic strategic priorities; and if he will guarantee that all regions will receive the full amount of funding they were allocated by the EU.
13 October 2016
The Chancellor announced that the Treasury will provide a guarantee for all new structural and investment fund projects, signed after Autumn Statement, and before we leave the EU, where they provide value for money and support domestic strategic priorities.
Each government department will take responsibility for the allocation of money to projects in line with these conditions and the wider rules on public spending. The Treasury will work with departments to embed this approach.