Funding to be Guaranteed by the Treasury
August 13, 2016

Chancellor, Philip Hammond, has stated that funding for farmers, scientists and other projects will be replaced by the Treasury after Brexit. Whilst the guarantee, which could cost the Treasury up to £6bn a year, was designed to give a boost to the economy during a difficult period, critics have stated that this does not go far enough with continued uncertainty. The Chancellor has said that the government was “determined to ensure that people have stability and certainty in the period leading up to our departure from the EU”.

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