Laura Sharman 30 September 2019

Javid announces £4.3bn Brexit 'funding guarantee'

Javid announces £4.3bn Brexit funding guarantee image

Chancellor Sajid Javid has outlined plans to distribute £4.3bn if the UK leaves the EU without a Brexit deal.

The ‘Brexit guarantee funding’ aims to protect charities, universities and businesses from the loss of EU grants.

This figure will rise to £16.6bn by 2029, Mr Javid said.

Mr Javid said: ‘We’re working tirelessly to get a deal with our EU friends and partners, and our preference remains to leave with a deal, but we will do everything possible to ensure we are prepared for Brexit on 31st October, whatever the circumstances.

‘This guarantee for certain EU-funded programmes is another important step in providing the certainty to citizens and organisations across the UK.’

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The LATCo model

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