EIB lending to UK fell sharply in 2017 – money that has helped Yorkshire!
22 January 2018
It was worrying to read in the Financial Times here that lending from the European Investment Bank to the UK fell sharply last year. The EIB provide low interest loans for projects and their rates are much lower than what any UK banks offer. In 2017, lending fell by two-thirds, totalling £1.89 billion but significantly down on the year before at £5.54 billion. This is bad news for the UK as this is money that has funded big infrastructure schemes and projects - including £56 million to help build new schools in Yorkshire! You can read more about the funding for new schools here.
All of this just highlights what the impact of a no-deal Brexit could mean for the UK, and it shows why we need an assessment for Yorkshire on what the impact of Brexit will be! You can read a letter from my Yorkshire and Humber colleague Richard Corbett MEP to the Government on the need for regional impact assessments for Yorkshire here.