Theresa May Pledges £1.6b Fund For Brexit-backing Towns


Today, Theresa May, the Prime Minister of the United Kingdom set out plans for a 1.6 billion pound ($2.11 billion) fund that aims to help boost the economic growth in the communities that support Brexit, particularly those in the north of England.

Last month, the details of the “Stronger Towns Fund” appeared in some newspapers. It is regarded by many as part of the efforts of PM May to secure support for her Brexit deal from opposition lawmakers of the Labour Party who represent areas that voted strongly in favour of withdrawing from the European Union.

The United Kingdom is scheduled to leave the bloc at the end of the month. The Brexit deal of PM May was rejected in Brussels by a large majority of the lawmakers last January. The British Prime Minister has assured the parliament that she will get to vote on a revised deal by the 12th of March.

The British government said that the fund would be targeted at the places that had not shared fairly in the prosperity of the country. It would be used to generate new jobs, help to train talents and boost economic activity.

In a statement, Theresa May stated: “Communities across the country voted for Brexit as an expression of their desire to see change; that must be a change for the better, with more opportunity and greater control.”

She added: “These towns have a glorious heritage, huge potential and, with the right help, a bright future ahead of them.”

John McDonnell, the finance spokesperson of the opposition Labour Party, said that the fund was “Brexit bribery.”

In a statement, he stated: “This towns fund smacks of desperation from a government reduced to bribing Members of Parliament to vote for their damaging flagship Brexit legislation.”

One billion pounds has already been allocated, with over half of the funds going to towns across the north of England. the government said that another 600 million pounds will be available for communities across the country to bid for.