Horizon 2020 Treasury Guarantee (July 2017 Update)
An update on the Horizon 2020 Treasury Guarantee was delivered in London during the Instruct European Research Infrastructure Consortia (ERIC) inaugural event on the18th July by Universities and Science Minister Jo Johnson.
The statement reiterated that the Treasury Guarantee will underwrite successful Horizon 2020 applications applied for before the UK’s departure from the EU and its commitment to UK participants to safeguard funding for research and innovation projects.
The statement provided further clarity in relation to the what the guarantee will cover and answers several key questions raised since the original statements were released in June and August 2016. (Link to previous article)
A full transcript of Jo Johnson’s speech is now available on the UK Government’s website (Link to Website)
The Key messages include:
- Under the guarantee, the government has committed to underwrite the funding for all successful bids made by UK participants for Horizon 2020 projects that are submitted before EU exit.
- The underwrite covers projects that are ongoing at the point of EU exit, as well as funding that will be applied for before the UK’s departure from the EU and that is subsequently successful post-brexit.
- The government’s underwrite will include those schemes not directly administered by the Commission but that award Horizon 2020 funding.
- It will also include schemes where the application has two stages as long as the first application is submitted before the UK leaves the EU.
- Details continue to be worked through and this does all sit within the context of wider negotiations that are ongoing in Brussels at this very moment.
Further guidance (Q & A) on the UK Government’s guarantee to underwrite Horizon 2020 funding is also available on the UK Research Office (UKRO) website