Where will funding come from when we leave the EU?

[SistemaAddict]

I was googling a local tourist attraction yesterday and noticed the following:

The new Treak Cliff Cavern Interpretation Centre is part-funded by the European Agricultural Fund for Rural Development - to upgrade the visitor offer, by providing new toilets, heritage and interpretation centre. Project reference number: 101006.


and it got me wondering where the deficit will come from when (if?) we leave the EU?

So many places of interest and industries benefit from EU funding and this is just one example.

Someone I know works as a project manager whose job it is to secure funding from the EU.

What other resources can we tap for funds once out of the bloc?

£1.8 billion this year is £350m a week.This money is on top of the £33.9 billion annual increase promised by Theresa May by 2023/4.

350 m x 52 is not 1.8 billion.

It's 18.2 billion. Per year, on top of what was promised.

But then, we never paid £350 million a week to the EU in the first place did we?

Try again.

Probably unlike Clavinova, I know people who work at BMW. Personally I would rather trust the reports of what they are saying. I won't be bothering to tell them that a Leaver can cut and paste this that and the other to show how easy promises have been made.

If we Leave and the production line is still rolling at full volume, or even better an increased volume after a couple of years, then they I am sure will the first ones to say that they needn't have worried, but it had been an anxious time.

@MeganBacon

Blibbyblobby perhaps now you're back you could help us understand what logic you applied in this comment?

Allowing for rounding:

100% - 16% = 84%

119% of 84 = 100.

If you fall 16% you need to increase your new lower position by 19% to get back to where you started.

Good grief. Why do people STILL not understand that the money we pay into the EU is a drop in the ocean compared to the economic benefits to our GDP from being a member. That is why the UK government has been paying in for so many years, because they know it's worth it economically. Trade deals as part of the EU, investment brought in to the country as the major English-speaking member state, tax receipts from EU workers based here (who are net beneficiaries to the economy), economies of scale for manufacturers based here due to the JIT system, economies of scale for all the agencies that were run centrally by the EU but we will now have to fund and run ourselves.

Leaving the EU is a massive hit to our economy that wipes out any saving made from our budget payment many many many times over. It will never be possible to make up for the money we save through doing things on a joint basis with the world's most powerful trading bloc by trying to act alone.

InTheHeatofLisbon
350 m x 52 is not 1.8 billion

Yes, I do actually know that - I copied ITV news literally - it was late! Apologies! According to the Times - Theresa May has already promised £20bn extra per year to the NHS by 2023 - Boris Johnson's immediate £1.8bn is on top of that. We haven't left the EU yet.

But then, we never paid £350 million a week to the EU in the first place did we?

It's going to seem much more than it did last year - our net contributions for 2018/2019 are likely to be at least 20% higher than 2017/18. Also, the National Audit Office have pointed out that the £39 billion settlement does not include the UK's commitment to the European Development Fund, which runs outside of the EU budget - an extra £2.9 billion to the end of 2020.The EU have plans to incorporate the EDF into the budget from 2021- which will obviously increase noticeable 'budget' contributions - and if they start to remove our rebate as well, who knows what we will be paying per week from 2021 if we remain in the EU...

foreign unelected power.

Gosh, was I hallucinating when I voted in the EU elections for my local MEP a couple of months ago?

Such silliness.

EU Vanity Projects

Those fifty foot, sorry, 15.42 metre high golden statues of Jean-Claude Juncker. They're everywhere.

DippyAvocado
Good grief.Why do people STILL not understand that the money we pay into the EU is a drop in the ocean compared to the economic benefits to our GDP from being a member.

And yet, other net contributors make a big fuss over money as well;

"talks gradually descend to 28 countries bickering over money.It is not a pretty sight, but luckily only happens every seven years."

"the commission proposed to boost funding for the Erasmus student exchange program, digitalisation, research and development, and external border security."

"The Netherlands, Austria, Sweden and Denmark, all net contributors, argue that this is too much"

"In a complex mechanism, Germany, the Netherlands, Austria, and Sweden, who are also net contributors, pay only a share of the UK's rebate."

"The commission is arguing that with the UK rebate gone, all rebates should be gone.Yet the net contributor countries want to retain their own rebates, arguing that they need a correction mechanism so that their contribution does not inflate."

euobserver.com/economic/142761

I missed the election for Dominic Cummings. Will someone enlighten me as to when it was.

I remember being a wee bit peeved at having to spend under £50 to get a brass plaque made acknowledging the £50,000 grant the college of FE I was working at at the time had been given by the EU for a (very useful) infrastructure project.

I now think that it should have been a giant sign with neon flashing lights and put into a much more prominent position as it would appear that many people refuse to acknowledge the value of such projects. The small brass plaque is far too discreet

To be fair, the area did vote Remain (But so did every LA area in Scotland )

"Sweeteners to northern England" well wouldn't it just be cheaper to buy all northerners a new pair of clogs?

Peregrina
I missed the election for Dominic Cummings.Will someone enlighten me as to when it was.

He's just Boris Johnson's adviser isn't he? Was Alastair Campbell elected?

Is Layla Moran your MP? Did you see her interview last week? She pulled a face at the mention of Jeremy Corbyn's name - as though she had a bad smell under her nose - not very professional - and I say that as a Conservative voter.

Unelected Advisor yes.

A bit rich from Leavers who scream about an unelected EU.

Alistair Campbell was not an advisor. He was press secretary, and he spoke to the press on a regular basis, putting himself up for questioning and challenge. He also never dodged a request to appear before any parliamentary comittees.

And his boss, Tony Blair (hiss) won three enormous majorities in sucessive general elections. We call this a mandate.

@Blibbyblobby
I could see the arithmetic part thanks so didn't need an explanation there.
It was more specifically why you think GDP is a function of the FX rate? As far as I know, there is only a very tenuous link and definitely not one that could be explained in the one for one numbers you showed.

@MeganBacon

Uk GDP is measured in sterling. If value of sterling falls and Gbp stays the same, it has fallen vs rest of world. Same reason the FTSE100 had a big jump after Brexit but in reverse (FTSE100 earnings being mostly non-UK but companies valued in GBP)

Obvs in reality fx rate affects value of imports and exports and therefore also influences economic activity but my broad point was just that a sterling value in June 2017 was significantly less than the same value in June 2016

foreign unelected power.

I assume the poster was talking about the Royal family. Or maybe 'unelected' power was referring to the Lords, especially the bishops. Or maybe the newspaper tycoons who influence elections, maybe Steve Bannon types... I don't know, it can't be the EU because of the bloody elections.

I'm worried about the centre where I do my hobby. It's the largest in the country and has trained professional performers for decades. Loads of students from all over Europe and beyond. Funded by....guess who. It's very artsy though, I can't see the Tory's giving a stuff about it when it comes to doling money out

@Blibbyblobby
GDP is measured in Sterling. Growth is measured relative the Sterling number. It doesn't really matter what value the rest of the world puts on it. Yes the value of Sterling has fallen but the rest of your post was just misleading.

I'm sure Westminster will be falling over itself to fund these projects I noticed on a recent trip to South Wales.

Regards the above, I am convinced that a large proportion of Brexteers see a sign saying "Paid for by the EU" and assume it means that the EU paid for the sign.

Wales will suffer a great deal from leaving the EU. But those living there didn't seem to think about that before voting leave.

I guess bottom line is new funding streams have to be created.
But how can they, when so much has been promised to so many already? So many industries to prop up, is there really money left over for Norfolk river bank restoration or new road building in Wales?

As a trustee of a not for profit development trust. I can tell you that there are many other funding streams available, be it from government sources, private funding or charities. I am currently involved in a project requiring a 7 fig. sum to fund it. We decided not to apply for EU funding as 1. the time constrains were too onerous and 2. the amount of paperwork and reporting required by the EU would put considerable pressure upon the trustees. So yes there certainly are other ways to attract funding even before we have left.

We pay a lot of money every year to the EU.
We have a massive trade deficit with the EU.
The EU's economic decisions are unsound and often harmful especially to the Southern countries.
They steam on with them regardless.
The rules around fishing are unpopular.
The system of agricultural subsidies is flawed.

There is no funding from the EU. There is just some of our taxpayers money coming back to fund projects the EU approves of. The signs are annoying to any sensible person.

That's how I see it. And I'm not alone. Which is why the Remain side cannot win.