At the meeting of the Kent County Council on Thursday 14 July, the Cabinet member for Economic Growth, Mark Dance, confirmed that Brexit posed a threat to KCC’s aim of securing £100 million for the Kent economy by 2020 from European Growth funds.
Mr Dance was answering a question from Labour’s Roger Truelove about the danger of Kent not reaching its target.
Mr Dance said the situation was full of uncertainty. It was not certain that current contracts would be fulfilled. It was possible that funding might be maintained during the period of Brexit negotiations, probably over the next two years, or beyond that if the negotiations took even longer. Much would depend on the UK’s approach during the negotiation period.
The European Regional funds help businesses in Kent, both large and small, the rural economy, creative industries and the skills economy. They help to increase trade between Kent and NW Europe.
For Labour, Roger Truelove says,
” We heard quite a lot during the referendum campaign about how the UK’s contribution might be recycled back into our economy. There was the promise to pay it all into the NHS. Farmers who voted Brexit apparently think they are going to receive the same subsidies from our Government. I only hope there will be some funding left to support the local economy and I hope Kent will try to expand its export trade to other parts of the World.”