In December 2020, the European Commission presented a plan for regulation of the Brexit adjustment balance (BAR). The BAR program should provide support to member states, regions and sectors. In particular, those who have suffered the most from the adverse effects of the UK withdrawal from the EU are thus mitigating the negative effects on economic, social and regional integration. About one billion crowns will be allocated to the Czech Republic.
The BAR should assist in financing specific actions taken by member countries to assist businesses and industries, workers, regions and local communities affected after the transition period.
For example, funding will be provided:
- Support for economic sectors, businesses and local communities, including those in the United Kingdom waters
- Promoting employment and re-integrating people returning to the labor market from the UK, including part-time programs, reuse and training
- Raising awareness of border, customs, health and phytosanitary and security regulations, fisheries control, certification and accreditation schemes, communication, information and citizens and businesses
BAR applies to all EU member states. Its allocation system, architecture and function are designed to focus on the most vulnerable countries. The maximum amount available is five billion euros (2018 prices). It will be set as a specific tool outside the budget ceiling of the EU’s international financial structure for the period 2021 to 2027.
The second round will be in 2024
Support will be paid in two allocation rounds. The first round, which will begin in the form of pre-funding in 2021, is determined on the basis of an allocation key for each member state, which takes into account the relative level of economic integration with the UK, including trade in goods and services. . Additional funds will be allocated to those affected states as a result of restrictions on access to British waters (fisheries). In this case, about four billion euros would have to be paid.
The second round will take place in 2024 if the actual cost is higher than the original allocation, but less will be paid. In the second phase, about one billion euros will have to be paid. In order to receive contributions from the BAR, member states must demonstrate a direct link between their claims and Brexit. The usual method of financial regulation and administration applies to EU funds.
The Czech Republic will receive about one billion crowns
The Czech Republic will be allocated 35.5 million, or about one billion crowns. 1 To fund the expenses incurred in accordance with the effects of Brexit in the period from July 2020 to December 31, 2022.
Any advice on areas that can be supported from the funds under the BAR can be sent to the Ministry of Transport at [email protected]
Featured: Brexit Business Info by the Exporters’ Eyes on the Portal
“Coffee trailblazer. Social media ninja. Unapologetic web guru. Friendly music fan. Alcohol fanatic.”