The UK is due to leave the EU at 11pm on March 29th 2019. However, current plans imply that we will continue our regular contributions to the EU’s budget and take part in EU schemes supporting farming, regional economic development, science and innovation and a host of other areas for another 21 months after that. That means we have some time to get the design of new programmes to replace these EU schemes right.
In this article for the Scottish Experts Panel monthly newsletter on constitutional, financial and Brexit-related issues, David Phillips, looks at the role the Barnett Formula could play in replacing funding currently provided by EU programmes. He argues that Barnett is unlikely to be a suitable mechanism for allocating such funding, and sets out some of the questions on policy and funding objectives that would need to be considered in designing replacement funding mechanisms.