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EU referendum: What funding does NI get from the EU?

Derry's peace bridge was constructed after receiving EU funding. Picture by Margaret McLaughlin
Derry's peace bridge was constructed after receiving EU funding. Picture by Margaret McLaughlin Derry's peace bridge was constructed after receiving EU funding. Picture by Margaret McLaughlin

THE referendum will inevitably lead to questions, claims and counter-claims over how much Northern Ireland financially benefits or otherwise from being part of the European Union.

So what funding does Northern Ireland get from the EU?

Some of the most significant cash for Northern Ireland comes from the EU Peace and Interreg cross-border cooperation programmes.

Over the years a raft of projects across the north have received this EU support, from the peace bridge in Derry to Gobbins path in Islandmagee, Co Antim.

This funding is managed by the Special EU Programmes Body (SEUPB), a north-south body sponsored by Stormont's finance department and the government in the Republic.

Its latest round of funding, known as Peace IV, will deliver around €269 million to projects working to support peace and reconciliation in Northern Ireland and the border region of the Republic.

This 2014-2020 scheme comprises 85 per cent EU funding and 15 per cent government match funding.

The latest Interreg scheme, which is aimed at cross-border cooperation, is also being backed by €240m from the European Regional Development Fund.

Another major EU funding source for Northern Ireland is through subsidies to farmers.

In 2013 Single Farm Payment subsidies were worth £246 million, representing almost 90 per cent of farmers' overall incomes.

There are also other initiatives such as the European Social Fund, which aims to combat poverty and enhance social inclusion by giving support to public or private organisations' projects.

However, critics claim Britain and Northern Ireland's contributions to the EU outweigh the funding received in return.

According to the Vote Leave campaign, the UK sends £350 million to Brussels every week.