To a great extent, the fund will be used in areas north of England which have not had a fair share of the country’s prosperity. May is scheduled to present a revised deal in parliament on March 12.
On Monday, British Prime Minister Theresa May set out a 1.6 billion pound fund to help to boost economic growth, especially in areas north of England as a measure to support Brexit communities.
May’s “Stronger Towns Fund” is viewed by many as an effort to gain some support for her Brexit deal from Labour MPs who represent areas that voted to leave the European Union.
Britain is scheduled to divorce the EU by March 29, 2019. May’s Brexi deal has been rejected by a large majority of MPs in January; as a result she has promised, parliament will get to vote on a revised deal by March 12.
She said, “Stronger Towns Fund” has been allocated to areas that had not got a fair share of the country’s prosperity; the fund will be used to create new jobs, boost economic activity and help train people.
“Communities across the country voted for Brexit as an expression of their desire to see change; that must be a change for the better, with more opportunity and greater control,” said May in a statement. “These towns have a glorious heritage, huge potential and, with the right help, a bright future ahead of them.”
John McDonnell, the Labour Party’s finance spokesman, said the fund was “Brexit bribery”.
“This towns fund smacks of desperation from a government reduced to bribing Members of Parliament to vote for their damaging flagship Brexit legislation,” said McDonnell in a statement.
While 1 billion pounds have already been allocated, with more than 50% going to communities north of England, a further 600 million pounds will be made available for communities around the country, said the government.