Replacement for Brussels cash '˜could be put in Yorkshire hands'

The Government is developing a new fund which will replace the money areas including Yorkshire currently receive from Brussels to help the region’s economy grow faster.

The EU currently hands Yorkshire around £100m a year which has previously been used to improve infrastructure, support university research and provide skills training.

The Government has promised its UK prosperity fund will fill the gap left when Yorkshire no longer has access to EU money.

And at the Conservative Party conference, Business Minister Margot James moved to allay concerns the Government will use Brexit as an opportunity to have a bigger say in how the money is spent.

She said: “As a Government we are very committed to devolving decision-making and with that accountability for funding to responsible accountable bodies around the country.

“The people of Yorkshire know the finer points of what is needed for the Yorkshire economy, particular small businesses, which I am responsible for in government, better than we can do sitting in Whitehall.”

She suggested the money could be put in the hands of combined authorities with elected mayors while a “mechanism” would need to be found for areas without those bodies.

Mrs James said it was too early to say how much money would be in the new fund but the Government recognised the important role EU cash had played in helping Yorkshire.