UK's Chancellor guarantees EU-level funding beyond date of 'Brexit'

British businesses and universities will have certainty over future funding and should continue to bid for competitive European Union funds while the UK remains a member of the European Union, ahead of leaving in the so-called ‘Brexit’ move following the referendum vote to leave, according to a government announcement on Saturday.

Thousands of British organizations will receive guarantees over EU funding in a new move by Chancellor Philip Hammond on August 13.

Key projects supporting economic development across the UK will be given the green light, ending uncertainty over their future following the UK’s decision to leave the European Union.