& Events

€5 billion for the Brexit Adjustment Reserve

Jan 22, 2021 | News

(22 January 2021) – The Commission has put forward today its proposal for a Brexit Adjustment Reserve to help counter the adverse economic and social consequences in the Member States and sectors that are worst affected.

© Le Revenu

The Reserve will have an overall budget of €5 billion. It will support businesses and employment in affected sectors.

It will assist regions and local communities, including those dependent on fishing activities in UK waters.

It can also assist public administrations for the proper functioning of border, customs, sanitary and phytosanitary controls and to ensure essential services to the citizens and companies affected.

The Brexit Adjustment Reserve will be “rapid and flexible”, and will cover expenditure in any Member State over a period of 30 months. It will be distributed in two rounds.

More information