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UK could lose almost 50% of European funding in a ‘no-deal’ Brexit, warns report

February 12, 2019 / Michael Banks

The UK could lose almost half of its European funding under a “no-deal Brexit”, according to a report released today by the House of Lords’ subcommittee on EU home affairs. the report urges the government to explain how it would replace the loss of European funding adding that doing so via national UK programmes represents a “formidable” challenge. The UK currently gets around 4% of its science funding from the European Union (EU) but wins far more back in return than it puts in. Indeed, the Lords’ report says the UK is the second largest recipient of Horizon 2020 funding  a major EU funding programme that runs between 2013 to 2020 and has so far received 15.2% of grants distributed through the programme, totalling €5.7bn. There are less than 50 days to go before the UK is supposed to leave the European Union on 29 March. A “withdrawal agreement” was made by the UK government and the European Union (EU) late last year but was re...