The Independent reports that the government fund designed to replace EU grants lost due to Brexit has been blasted as “catastrophic” amid claims that it will cut support for disadvantaged areas by more than 40 per cent over the coming three years

The Conservative manifesto for the 2019 general election promised to at least match the money provided to less wealthy areas through EU structural support, but details of the Shared Prosperity Fund released last week show that although it will hand out £2.6bn over three years, it will not reach the £1.5bn annual total provided by Brussels until 2024-5.

Labour’s Shadow Levelling Up Secretary Lisa Nandy MP said the announcement amounted to “another broken promise” from the government.

She added that, although “we don’t have full figures as the Government haven’t published them, the direction of travel is obvious – and frustratingly familiar. Big promises to ‘level up’ don’t mean much when you’re cutting money from our most disadvantaged communities.”

Full article:

The Independent - Brexit: Anger over ‘shortfall’ in government funds to replace EU support for disadvantaged regions