Joe McHugh
Question:58. Deputy Joe McHugh asked the Minister for Public Expenditure and Reform the mechanism for the drawdown of the Brexit fund; and if he will make a statement on the matter. [3872/22]
View answerWednesday, 26 January 2022
Questions (58)
Written answers
Ireland will receive just over €1 billion from the EU’s Brexit Adjustment Reserve, the biggest single allocation for any Member State, representing just over 20% of the total funding available. The objectives and requirements of the Reserve are set out in the Brexit Adjustment Reserve Regulation which came into force on 11 October 2021.
The overall objective of the Reserve is to provide financial support to the most affected Member States, regions and sectors to deal with the adverse consequences of Brexit.
To qualify for funding, expenditure must be incurred between 1 January 2020 and 31 December 2023, and a direct link to the adverse consequences of the withdrawal of the United Kingdom from the EU must be demonstrated.
Member States are required to establish a Designated Body responsible for the management and oversight of funding and the required reporting and funding application to the Commission. In Ireland this function lies in my Department.
Approximately 80% of funding will be paid to Member States as pre-financing in three tranches over the period 2021 to 2023. I am pleased that on 6 December 2021 the European Commission approved the payment of Ireland’s first tranche of €361.5 million, making us the first Member State to receive such approval.
The allocation of BAR resources is being aligned with the annual Estimates process, which has been the vehicle for allocating Brexit resources since the UK referendum on EU membership in 2016.