Friday, 28 October 2016

UK plans for €7.8 billion from #H2020

In August the UK Finance Ministry – the Treasury – announced that it will underwrite payments to UK participants in H2020 grants won up to the date of the country’s departure from the EU. The Treasury has now published its estimate of the money involved.

At the end of February 2016, UK organisations had been awarded H2020 grants of €1.8 billion, representing about 15% of grants awarded. Based on this, they expect the UK to be awarded €2 billion each year for the rest of H2020. The UK Prime Minister has announced that she will trigger article 50 of the Lisbon Treaty in March 2017, giving a departure date of March 2019. This should add €6 billion to the grants so far, giving a total of €7.8 billion. This is more than the €6.9 billion the UK was awarded from FP7 over its seven year life!