Transition Period
During the transition period, (also known as the implementation period), funding arrangements would apply until the end of the implementation period and current EU Multi-annual Financial Framework (end December 2020).
Backstop
It is unclear how an extended transition period of backstop arrangement beyond this date would affect the UK’s participation in or application of EU funding systems. Current government policy is to implement after December 2020 a new Shared Prosperity Fund to replace the EU structural funds system in the UK, and to introduce a domestic system to replace EU rural and farm payments.
