Kent County Council has warned several major projects could be jeopardised as EU funding dries up post Brexit.
The warning came from Cllr Mark Dance, KCC cabinet member for economic development, who said the authority could struggle to reach its £100m funding target from the EU.
So far, £52 million has been earmarked for various schemes for the period 2014 to 2020 – casting doubt over what would happen to this funding if Britain were to leave within this time frame.
Even more uncertainty surrounds the council’s ability to secure the remaining £48 million.
Cllr Dance said at this stage the risk to funding was ‘difficult to quantify’, however the European Commission may be contractually obliged to maintain the flow of money to ongoing projects.
But any extension to funding would have to be negotiated by every other EU member state and a moratorium might be imposed on any new bids.
