European money will continue to be invested in programmes in Cornwall until 2020.

The current European Structural & Investment ESI 2014-2020 programme period and allocation will now be covered until 2020, the Government has said,.

In 2016, the Government said funding would be guaranteed for ESI Funds projects contracted up to March 2019.

Last week, the Government announced the extension to this guarantee, which will now cover the full 2014-20 programme period and allocation in the event of a no-deal Brexit.

The extension means departments will continue to sign new projects after EU exit during 2019 and 2020, up to the value of programme allocations.

Mark Duddridge, chair of the Cornwall and Isles of Scilly Local Economic Partnership and chair of the EU programme board said: ‘This reassurance is exactly what the business community in Cornwall and the Isles of Scilly needed to hear.

‘The growth programme is working and projects are delivering outputs.

‘We would encourage all businesses to engage with the projects and future calls to ensure we all maximise the potential of the EU funds to 2020.’