"Brexit is putting at risk a £5bn 'lifeline' of EU regional cash for important social, employment and infrastructure funds because the government has yet to come up with a plan for replacement money, local council leaders have warned." Yep. Of course. theguardian.com/politics/2019/…
Has always been an issue. The way that EU money (our money, for the hot under the collar types) is distributed means that it goes to the regions, and mainly to poorer places.

The UK Government *could* replace the funding but...
A) No guarantee they will
B) For how long? Forever?
C) Will they give it to the same places, or dump it in London and the South East?

Over time, EU regional development funding has delivered massive benefits, hundreds of billions of pounds (many projects come with a "match funds" requirement)

Brexit puts all that at risk.
Because what "take back control" means in the Brexit context is "give control to people we shouldn't really be trusting". People who've given us the bedroom tax, austerity, a hollowing out of Northern infrastructure, tax breaks for the rich and for large businesses, etc. etc.
It's the Grand Canyon sized gap between "could" and "will".

Yes, Brexit could give us more control over how we spend some of our money. But will we spend it better? Not a chance in a million years.

The Government will just sweep it into central coffers, and that's game over.
Because by law, the EU is obliged to behave "nicely". There are strict rules on what it does with the money, formulated in partnership with member states.
assets.publishing.service.gov.uk/government/upl…
But the UK Government? It can behave just as evilly as it likes. And if we serendipitously hit a brief period of enlightenment, when our Government remembers that poor people and disadvantaged communities exist, you can bet it won't last long.
So in summary:
A) This was predictable
B) This was predicted
C) The UK government is behaving just as lousily as you would expect given the track record of who's in power
D) Sucks to be an area missing out, but that's Brexit. If you will trust the wrong people, then...
(And by the way, the same goes for other sources of EU funding eg the money going to farming. The UK Government *could* replicate that funding. But *will* it? Forever? Without people having to beg, and keep begging? Hahahahaha.)
By pursuing Brexit, you're really saying "I trust this UK Government, and all future UK Governments, to look out for the needs of marginalised communities more than the EU will, even though the latter has the oversight of 28 nations and plans long-term (5-10+ year instalments)."
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