Our country will receive 375 million euros from the Brexit Fund. The fund aims to support member states and sectors hardest hit by the UK’s exit from the European Union. The European Parliament and member states must again approve the costs and investments related to Brexit for which the money from the fund can be used. Parliament has already approved the partition, which the member states closed at the end of April.
The Brexit Amendment Reserve (BAR), as the fund is officially called, will consist of € 5 billion in European funds. If it were up to the European Parliament, 4 billion euros of that amount would be split into two equal tranches of 2 billion dollars between the 27 countries of the European Union in 2021 and 2022. The remaining billion will be allocated in 2025.
Expressed in constant prices, Ireland will be the largest beneficiary of the fund with € 1.064 billion, ahead of the Netherlands (810 million), France (672 million), Germany (591 million) and Belgium (353 million). The allocation method is based on the dependence of the economy of each member state on trade with the United Kingdom, with a special focus on fishing.
Belgian rapporteur Pascal Aremont (of the German-speaking CSP) explained that it makes sense for Parliament to agree to a split of funds by member states before actual negotiations with the council. He said that a lot of work has been done to define the key to the distribution, “These numbers do not come out of the blue.”
Parliament wants measures taken in the context of Brexit to be eligible for support from the Fund between 1 July 2019 and 31 December 2023. The Council intends to limit this reference period to the time period between January 1, 2020 and the end of 2023. It includes measures that could The support receives assistance from economic sectors, companies, small and medium enterprises, local communities (fishing), work programs, reintegration projects, borders, customs controls, health, phytosanitary and security. MEPs do not want banks and other financial institutions benefiting from Brexit to receive support from the fund.
MEPs hope to have smooth negotiations with member states and want to be able to end the talks by June.
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