Mr. Brian Hayes:

That is not an issue for the European Parliament Committee on Economic and Monetary Affairs because it has nothing to do with it. It is a budgetary issue and therefore relates to the European Parliament Committee on Budgets. The EU negotiates a seven-year multi-annual framework of almost €1 trillion and then puts in place multiple streams, including PEACE and INTERREG, through its funding programmes. It is not an issue for the European Parliament Committee on Economic and Monetary Affairs. It relates to the budget. My understanding is that the Irish Government is fully supportive of the PEACE and INTERREG funding. I know that because when I was in government, we were pushing it in a way that the British Government was not pushing it. When Ireland held the Presidency of the EU during the period of the last multi-annual financial framework, we made sure these programmes remained in place for all seven years of the framework. I do not see any departure from that. The question we need to consider is how the British Government will fund this when Northern Ireland is no longer in the EU. Having spoken to Michel Barnier about this issue, I am aware that there is a willingness for these programmes to continue. There is considerable support in Brussels and Dublin for their continuation. A mechanism needs to be found to enable this to happen. Although the amount of money involved is relatively small, it is significant for the Border community and in the North-South context.