EU Cohesion Fund
The question
To ask the Chancellor of the Exchequer, whether the UK Government will be required to contribute to EU Cohesion Funds as a consequence of the UK/EU reset.
Answered by Lucy Rigby
The UK is not currently contributing to EU Cohesion Funds as a consequence of the UK/EU reset. Whilst the EU is seeking to establish a mechanism for a UK financial contribution towards reducing economic and social disparities between the regions of the Union as part of participation in the Internal Electricity Market, any UK financial contribution would be subject to negotiations with the EU, and no contributions have yet been made or agreed upon. The Prime Minister and Chancellor are clear that agreements made with the EU must be in the national interest, and that whilst trade-offs will be required, these are worth making where the economic gains to the UK exceed the costs.
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