The EU commission created a €5bn fund to help member states most impacted by Brexit with Ireland securing the largest share of €1bn
ADVERTISEMENT
The ECA has expressed concerns about the operation of the €5bn BAR fund created by the EU Commission in a 13-page opinion released on Monday. This fund was established at the end of 2020 to help mitigate the consequences of Brexit in proportion to the extent that it impacted individual EU member states. Ireland has secured €1bn from this fund for expenditure between July 2020 and December 2022.
The main concern for the ECA is the fact that member states are getting an unusually high level of funding up front without having to give the EU Commission details in advance of how the money would be used and secure approval. They recognise that this enables fast reaction to a unique situation, they point out that the Commission won’t know before the end of 2023 if the measures undertaken were eligible and appropriate.
In an online press briefing, the ECA highlighted how expenditure involving EU funds had to first go through an approval process and be signed off in advance. For the BAR fund, it is a reverse process and expenditure will have taken place with a retrospective examination in a future audit that wont happen before 2023. In reply to a question from the Irish Farmers Journal, the ECA said that the fund secured by Ireland would act as a boost to the national financing of Brexit expenditure, something that has been provided for by the Irish Government in annual budgets since 2016.
ADVERTISEMENT
The ECA also question the setting of an expenditure period between July 2020 and the end of 2022, saying that there are no reasons why these dates were chosen.
Register for free to read this story and our free stories.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
The ECA has expressed concerns about the operation of the €5bn BAR fund created by the EU Commission in a 13-page opinion released on Monday. This fund was established at the end of 2020 to help mitigate the consequences of Brexit in proportion to the extent that it impacted individual EU member states. Ireland has secured €1bn from this fund for expenditure between July 2020 and December 2022.
The main concern for the ECA is the fact that member states are getting an unusually high level of funding up front without having to give the EU Commission details in advance of how the money would be used and secure approval. They recognise that this enables fast reaction to a unique situation, they point out that the Commission won’t know before the end of 2023 if the measures undertaken were eligible and appropriate.
In an online press briefing, the ECA highlighted how expenditure involving EU funds had to first go through an approval process and be signed off in advance. For the BAR fund, it is a reverse process and expenditure will have taken place with a retrospective examination in a future audit that wont happen before 2023. In reply to a question from the Irish Farmers Journal, the ECA said that the fund secured by Ireland would act as a boost to the national financing of Brexit expenditure, something that has been provided for by the Irish Government in annual budgets since 2016.
The ECA also question the setting of an expenditure period between July 2020 and the end of 2022, saying that there are no reasons why these dates were chosen.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS