Press Release: Euro funding threat

There was concern in Scotland, as well as in Wales and Northern Ireland, in February 2013, that the devolved nations faced losing millions of pounds of European Structural Funds. It followed the agreement by the European Council on the EU’s budget for 2014-20 at the European Council of 7-8 February 2013.

The deal, reached by the European Council – including the UK - would mean that structural funds budgets will be allocated on a new formula, which in the UK favours densely populated regions. Uner the deal, the UK’s overall allocation for 2014-20 would fall by approximately 6%. However, initial calculations suggest that Scotland could face a drop of over 30% - a cash terms fall of around €300 million.

ESO: Background information: EU leaders agree budget cuts, MEPs brace for strife http://www.europeansources.info/record/eu-leaders-agree-budget-cuts-meps-brace-for-strife-eu-budget-hawks-succeed-in-e960-billion-cap/

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