The government welcomes the European Commission proposal regarding the Brexit Amendment Reserve. The Brexit Amendment Reserve provides support to counter negative consequences, especially in the member states, territories and industries hardest hit by Brexit.
The aim is to minimize the negative consequences of Brexit on the economic, social and regional cohesion of the European Union. The government affirms the exceptional and temporary nature of the reserve in its February 4 letter to the Swedish Parliament.
The aid is aimed primarily at member states whose economies have been hit hard by Brexit
As part of the long-term budget conclusions, the European Council approved in June 2020 the Brexit Amendment Reserve, which totals € 5 billion at 2018 prices.
Support from the Brexit Settlement Reserve is mainly directed at the member states whose economies are struggling the most. In addition to the volume and importance of trade with the United Kingdom, negative consequences for the fisheries sector are taken into account separately when allocating funds. The funds may be used for public expenditures incurred in member states due to Brexit for a period ending at the end of 2022.
According to the redistribution mechanism proposed by the Commission, most of the reserve will be paid in advance in 2020 and the remainder in 2024. Advance payment assistance to Finland is estimated at € 13.6 million.
The regulation is set to take effect in June 2021.
The government subsequently decided to distribute the subsidies at the national level.
Petri Habalainen, Consultant Officer, Ministry of Labor and Economy, phone +358 29 506 4922
Elisa Hajleh, Specialist, Ministry of Labor and Economy, phone +358 29 506 4949