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Cross-party pressure for urgent consultation on prosperity fund

MPs have called on the government to start its long-delayed consultation on the UK Shared Prosperity Fund, which researchers hope will support R&D capacity-building when the European Union structural funds dry up.

Lawmakers and local politicians, in particular those outside London, are eager to hear concrete proposals on the UKSPF, as the UK will stop benefiting from the EU structural funds after Brexit. The government had first promised to launch a consultation on the new fund in 2018 but this has been postponed until later this year.

Britain is expected to receive more than £8.4 billion between 2014 and 2020 from EU structural funds, which tackle poorer performing regional economies. Some of this funding is used for building R&D capacity.

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