Call for assurances on Scotland post-EU funding

31/01/2022

SCOTLAND could lose key investment if the UK Government fails to match previous funding from the European Union, according to Employment Minister Richard Lochhead.

Speaking ahead of today’s second anniversary of the UK’s departure from the EU, Mr Lochhead said the forthcoming UK Shared Prosperity Fund must fully replace the funding previously delivered to Scotland from EU structural funds, as was promised.

His comments follow publication of a Treasury Committee report which estimates that the Shared Prosperity Fund, which is due to reach £1.5 billion a year by 2024-25, represents a 40% reduction on the amount the UK received under EU structural funds from 2014 to 2020. The UK Government is expected to announce shortly how much Scotland will receive.

Mr Lochhead said:

“This cross-party report from the Treasury Committee confirms our fear that the UK Government’s Shared Prosperity Fund may not deliver the same level of funding to Scotland that we received from the EU, meaning our communities and businesses would again lose out as a result of Brexit.   

“It is essential that Scotland is not penalised financially and we expect the UK Government to provide a fair and equal share of funding that fully replaces EU support. ­Anything less would be a failure to deliver on what was promised.”

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