EU ministers agree position on €5bn Brexit adjustment reserve for regions and sectors

The fund, known as the Brexit adjustment reserve, will focus on the most affected regions, areas and sectors in the European Union (EU) and will be used to pay for a variety of measures such as compensating businesses for lost trade, keeping people in employment and setting up customs checks at ports.

Each member state’s share is determined by three main factors: the value of fish caught in the UK exclusive economic zone, the importance of trade with the UK, and a factor linked to the population of maritime border regions with the UK. Ireland will be the biggest beneficiary, receiving over €1 billion from the fund, followed by the Netherlands which is set to receive €757 million, Germany €455 million, and France €420 million. 

EU proposes foreign subsidies instrument 

The European Commission has proposed a new instrument to address potential distortive effects of foreign subsidies in the EU’s single market under the proposed foreign subsidies instrument, which is subject to agreement by the Council and the European Parliament. The Commission will have the power to investigate financial contributions granted by public authorities of a non-EU country which benefit companies engaging in an economic activity in the EU and redress their distortive effects, as relevant. The is made up of three tools: - A notification-based tool to investigate concentrations involving a financial contribution by a non-EU government, where the EU turnover of the company to be acquired (or of at least one of the merging parties) is €500 million or more and the foreign financial contribution is at least €50 million;  

- A notification-based tool to investigate bids in public procurements involving a financial contribution by a non-EU government, where the estimated value of the procurement is €250 million or more;   

- A tool to investigate all other market situations and smaller concentrations and public procurement procedures, which the Commission can start on its own (ex-officio) and may request ad-hoc notifications.