Rural firms ‘losing out’ after EU funds replaced

The Times reports that rural businesses have accused ministers of “levelling down” the countryside after analysis of the budget found they will suffer a shortfall of hundreds of millions of pounds in grant funding

The UK Shared Prosperity Fund, due to launch in April 2022, replacing EU structural funds that targeted economic disparities, has not retained ringfenced funding for rural areas as the size of the fund will not match the £1.5 billion of EU funding until 2024-25.

Campaigners highlighted that the rural economy is 18% less productive than the national average, despite the fact that closing the gap would add an estimated £43 billion to the economy.

The report suggests that the UK Government is not prioritising tackling discrepancies between rural-urban areas.

Full article:

The Times - Rural firms ‘losing out’ after EU funds replaced
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