Richard Lochhead labels Shared Prosperity Fund a "betrayal" of Moray
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RICHARD Lochhead MSP has labeled the UK Government's Shared Prosperity Fund as a "complete betrayal" of Moray and the wider Highlands and Islands region.
The scheme has been set up to replace funding which had previously been provided by the EU. Ordinarily Scotland would receive £549 million from the EU over a three year period.
However, the country will now receive £212 million from the UK Government's new fund instead.
Additionally, Moray and the Highlands and Islands which had previously received a 19 per cent share of EU funding is set to receive 11 per cent from the new scheme.
Lochhead said: "In recent weeks the UK Government has finally announced plans for its UK Shared Prosperity Fund, which it claims will replace the EU funding that prior to Brexit played a vital role in economic and social development in our local communities.
"What has been announced by UK Ministers is a complete betrayal of Scotland, and in particular Moray and the wider Highlands and Islands – areas that disproportionately benefitted from EU funds but now face a smaller share from a smaller pot as a result of yet another rotten broken promise.
"The reality is that the UK Government's 'levelling up' agenda means Moray and wider region losing out.
"When the numbers are crunched it turns out that Scotland is seeing a 60 per cent real terms reduction in funding through the Tory government's scheme, with the Highlands and Islands region set to receive a much smaller share of a much reduced pot of money.
"It is incredible to think that the region with some of the biggest barriers to economic development is set to lose out in this way and it destroys any claims by the Conservative Party that they understand or care about the needs of Scotland's rural communities.
"Scottish Government Ministers have been excluded from decision making on the new scheme throughout, which is another broken promise, and given the huge loss in funding coming to Scotland, I find the plans completely intolerable."
