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Flashcards in Regional funding Deck (11)
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1
Q

What is Horizen 2020

A

It allocates money to research projects all over the EU

2
Q

Why does the EU offer structural funding?

A

To even out economic disparity

3
Q

What region receive regional funding?

A

Regions with a GDP less than75% of the EU average

4
Q

EU structural funding to Wales

A

The EU is providing £1.8bn to Wales between 2014 and 2016

5
Q

How much is structural fund in budget?

A

£40bn annual structural fund budget, which aimed to narrow poverty gap

6
Q

What did the Court of Auditors criticise?

A

The Court of Auditor, the official boy which inspects the EU’s finances, has raised concerns about the spending of structural funds

7
Q

Example of failing projects

• Road building

A

Out of 24 road schemes audited, only 7 were built at the original contract price. In almost half, the cost overran by at least a fifth.

8
Q

How much does the UK contribute to structural fund?

A

The UK contributes more than $4bn a year to the structural fund

9
Q

Positives of structural funding

• co-financing

A

Structural funds are vital in providing co-financing for major projects

10
Q

Positives of structural funding

• Financial stability

A

The EU budget gives financial stability to schemes and protects them from domestic political change

11
Q

Positives of structural funding

• Certainty

A

Investors and regions receive highly valuable security and certainty which they simply do not get on a national level.