UK in negotiations to restart financial contributions to EU’s cohesion policy

It comes as the UK attempts to strengthen ties with the EU

The council announced today in a press release that talks have been confirmed to discuss the cohesion policy as well the UK's participation in the EU's internal electricity market and Erasmus+ programme.

This comes following efforts from Keir Starmer and Labour to strengthen ties between the UK and EU.

The statement on the Council's website said that: "The aim of the electricity agreement is to allow the UK’s participation in the EU’s internal electricity market by aligning respective rules, thus significantly contributing to energy security for both parties, especially amid the current geopolitical turmoil."

Meanwhile, it stated: "The agreement on the UK’s financial contribution towards reducing disparities between the EU regions by increasing the bloc’s economic, social and territorial cohesion is part of a consistent EU policy that couples the granting of market access to a third country with a fair financial contribution reflecting the benefits derived from such access.

The UK used to be part of this EU cohesion policy before Brexit, however, it was one of a number of financial contributions being paid towards the EU that Brexiteers pointed out as a reason to leave the Union.

Estimates suggest the UK was paying around £2.5–£4 billion into this pot which has the aim of developing underdeveloped areas of the European Union - this included in the UK, with places like Cornwall and west Wales receiving funding.

Marilena Raouna, Deputy Minister for European affairs of the Republic of Cyprus said: "Today’s decisions mark tangible progress in delivering on the outcomes of the first EU–UK Summit held in May last year, where we opened a new chapter in our partnership.

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"By promoting learning mobility via Erasmus+, we are advancing shared interests and reinforcing people-to-people ties, especially for our youth.

"At the same time, by deepening cooperation in electricity, we are enhancing energy security and creating new opportunities for businesses.

"These decisions undoubtedly mark a significant step in forging a strong, mutually beneficial, and forward-looking EU-UK partnership."