Jeopardise Bn: Eu Cash and Gateshead Council

jeopardise bn: A little detail is included about Gateshead council's difficulties in raising the 800,000 needed for its monument to regeneration, and in the bottom lefthand corner of the board is a tiny blue and yellow symbol of one organisation that came up with the cash the European Union, according to The Guardian. Brexit could jeopardise 5bn 'lifeline' of EU cash, councils warn Read more In June 2016, a majority of people in the north-east, including Gateshead, voted to leave the EU, against the advice of their local authorities, trade unions, business organisations, major political parties, universities and local employers such as the carmaking giant Nissan. A small information board at the site, built on Gateshead's Team colliery, which closed in 1974, features an explanation from the sculptor, Antony Gormley, that the angel honours the region's heavy industrial past while aspiring towards a renewed economic future. All argued that the region's progress towards economic renewal, which has made it a net exporter to the EU largely due to Nissan, would be severely disrupted by Brexit. There was and still is little clear appreciation of answers to the basic question What has the EU ever done for me One worker at the Nissan factory told me he voted leave because the north-east got bugger all money from the EU. This despite Nissan alone benefiting from huge European regional development fund ERDF grants and, in just the eight years before the referendum, 450m in loans from the European Investment Bank EIB . It is difficult to believe that the referendum would have swung the same way had more prominence been given over the decades to the EU's concrete contribution, particularly to rebuilding efforts in regions suffering economic decline. But in a region that had suffered such prolonged industrial decay, the message simply didn't cut through. (news.financializer.com). As reported in the news.