The European Parliament voted today to approve the deal reached on the EU’s long-term budget.
Liberal Democrat MEP and Vice-President of the European Parliament’s Budget Committee George Lyon commented:
“Liberal Democrats have consistently argued for a smaller, more efficient EU budget that is more targeted towards creating jobs and growth. That is exactly what this deal will deliver.”
“Most importantly, European funding will now focus more on areas where it adds real value such as infrastructure, support for local businesses and innovation.
“Vital transport projects such as HS2 and the upgrading of the rail link between Edinburgh and Glasgow are now in the running for millions of pounds worth of funding, whereas almost £2 billion has been set aside for a new instrument to support small businesses.
“Moreover, £8 billion will be spent on programmes to tackle youth unemployment and create new jobs in some of the UK’s most deprived and neglected regions. Since 2007 the European Social Fund has helped 357,000 people up and down the country back into work; this new funding will help hundreds of thousands more.”