The Local London region (Outer London North East and East) would have received around £1 billion from the European Union between 2021 and 2027 had the UK retained membership.
The Government has promised its UK Shared Prosperity Fund would replace all EU monies and promised a consultation in the latest spending review.
Today, the Chancellor delayed the consultation again.
Cllr Darren Rodwell, the Chairman of Local London, said:
“We are bitterly disappointed the Government has failed to announce its consultation into the UK Shared Prosperity Fund today. The UKSPF is meant to replace EU funding streams and a consultation has been promised for more than a year now. All we’ve had are delays and excuses. Those services and people which rely upon EU funding need reassurance and certainty.”