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<p>The Chancellor announced in August and October 2016 that the Government will guarantee
EU projects agreed before we leave the EU, to provide more certainty for UK organisations
over the course of EU Exit. In July 2018, the Chief Secretary laid a Written Ministerial
Statement (HCWS926) extending this guarantee to provide further stability for UK organisations
in a ‘no-deal’ scenario.</p><p>The guarantee now covers all projects that would have
been funded by the EU under the 2014-2020 programme period, including all European
Regional Development Fund projects.</p><p>The Government recognises the importance
of reassuring local areas on the future of local growth funding once we have left
the European Union and we will consult widely on the design of the UK Shared Prosperity
Fund.</p>
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