Funding from the EU’s Regional Growth Fund has proved invaluable in the regeneration and growth of Stockport. The restoration and development of the old Houldsworth Mill with an integrated business and arts centre as well as new homes for shared ownership was part funded by the EU. Money Maze; a free financial advice service focused on supporting older citizens with health conditions was funded entirely by EU funds within the Cities in Balance programme.
It is crucial that we hold the Government to account for the regional funding commitments it has made. We were promised that all European regeneration funding would be honoured by the government in the event that we left the EU. After questioning the new Secretary of State for Brexit it would appear that the Treasury will only guarantee to back EU-funded projects signed before this year’s Autumn Statement.
Of the £322 million in funds promised to Greater Manchester £157.9 million is yet to be signed off by the British Government. There is a very real danger that our communities could stand to lose close to £158 million in funding by November if the government reneges on its support.
Stockport cannot lose out and I am determined to push the government every step of the way on this.