Brexit Briefing: Farmers, Finance and Further Education – At A Glance
Farming, Finance and Further Education
No sectors of the economy face more potential upheaval than farming, finance and further education.
Scheherezade Daneshkhu writes in the Financial Times that direct payments from the EU made up 55% of farmers’ income last year, but suggested no consensus so far on how to replace the EU subsidies. Some comments beneath the piece from farmers are informative.
The newspaper claims that the City of London has “given up hope” of universal access to the EU’s single market, and will seek a series of sector-by-sector deals.
As our pharma reporter Denise Roland reports from London, the vote is already having an effect on research funding for universities. EU money accounts for almost 10% of research funding, and the U.K. is a big net beneficiary of that part of the EU budget. The accompanying chart shows the four European universities that receive the most EU funding are all British, led by the University of Cambridge, and the country has five out of the top 10.
The Treasury has said it will guarantee farm, research and economic development funding, but only until 2020.