Indication has emerged that
Britain may face a slow checkout and some form of surcharges from Brussels.
From the foregoing, it was learnt
that the Committee on Regional Development has announced in clear terms that
any company operating in the UK that has in one way or the other taken part of
the EU regional funding will be under a strict monetary scrutiny till 2024.
Though the committee suggested
some kind of exemptions to small businesses, but companies and government
agencies that benefited from such funds may be made to pay even if the money
was given them before Brexit.
Example of such companies required
to pay back is Superfast Cornwall, which is a public-private broadband
partnership. The company is said to have benefited immensely millions to help
it upgrade their services in one of Britain’s poorest region.
Thus, “The U.K. and EU could
agree to overlook the usual rules for EU regional funding and exempt all
British projects from the repayment clause. But that depends on a deal being in
place when Brexit occurs. A hard Brexit would likely mean a big bill.”
No comments:
Write comments