Millions to help Portugal following Brexit

By TPN/Lusa, in News, Business · 15-01-2021 01:00:00 · 5 Comments

Portugal should receive at least €58.3 million from the European Union (EU) to support the economic sectors most affected by the withdrawal of the UK from the single market, the European Commission announced.

This value(in current prices) refers to the first installment of this post-Brexit reserve, the distribution of which has yet to be approved by the Member States and the European Parliament.

After the announcement of the creation of this reserve last December, the European Commissioner for Cohesion and Reforms, Portuguese Elisa Ferreira, comes to specify the amounts allocated to each country.

In a publicationon Twitter, the European Commissioner speaks of an adaptation reserve of around €5 billion for the total of the 27 Member States, which aims to “support countries, regions and sectors most affected”.

According to the document, it is expected that around €4.245 billion at current prices (€4 billion at constant prices) will be paid this year and that the remaining €1.1 billion (€1 billion at constant prices) to be distributed in 2024.

Also based on this table published on the internet, Ireland and the Netherlands should be the main beneficiaries of the adaptation reserve, in a list that is also led by Germany, France and Belgium.

Like Portugal, inthis first instalment, Ireland is expected to receive €1.052 billion, the Netherlands €757.4 million, Germany €455.4 million, France €420.8 million and Belgium €324.1 million.

In the proposalpresented at the end of December, the European Commission stated that the allocation of funds would take into account “the importance of trade with the United Kingdom and the importance of fishing in the UK’s exclusive economic zone”.

The post-Brexit agreement between the EU and the United Kingdom, which came into force on 1 January 2021, allows both to continue to negotiate without quotas or tariffs.



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Comments:

I'm trying to return an expensive item of clothing I received from Portugal (incorrect size). Posted via RM on the 5th January, Intl tracked and signed for. It's been stuck in Lisbon since the 14th January. CTT have informed me, that they have no forecast for delivery. Really?! That it usually takes a few days and may be stuck in customs.
RETURN OF GOODS was written quite clearly on the parcel, including the customs form, along with the cost of the clothing, £250.
If this is now the quality of postal service we are likely to expect due to Brexit, then I'll keep my custom within the UK. I most certainly won't be giving my money to any Portuguese company again, given this experience.

By Claire from UK on 30-01-2021 10:20

Annie, Brexit didn't stop us coming & as for compensation, we paid a fine of 89 billion to get out! the few million you are offered is a tiny part of that. Who gets the rest you shoul ask?
We are banned because travel is banned, I have lucky friends who got there early and are luckily banned from leaving.

By Huudi from UK on 16-01-2021 10:35

The amount is correct but it has nothing to do with Brexit. This is a Covid relief fund.

By Tony from Lisbon on 16-01-2021 09:00

I would like to know what is meant by "current prices" and "constant prices".

By Scarlett Verkuijlen from Algarve on 15-01-2021 07:09

Hang on! Whose idea was Brexit?! Shouldn't the compensation come from the former "ally and friend" - the UK!

By Annie from Algarve on 15-01-2021 10:42
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