To ask the Chancellor of the Exchequer, what proportion of the £22 billion in funding for research and development announced in Budget 2020 will be used to replace funding from the EU shared prosperity fund.
20 May 2020
In repatriating the EU structural fund programme, the government has an historic opportunity to take back control and spend this money on this country’s priorities. The UK Shared Prosperity Fund will replace the overly bureaucratic EU structural funds, levelling up opportunity in each of our four nations, and will have a strong focus on investing in people and improving their life chances.
The Budget allocated 20/21 R&D funding to departments, with most funding from 21/22 onwards subject to allocation in the forthcoming Comprehensive Spending Review, when the government will also set out plans for the UK Shared Prosperity Fund.