Britain exiting the European Union could cost the North East’s Universities millions of pounds, Labour’s Shadow Business Secretary has warned.
Labour released figures showing that Newcastle and Durham Universities have benefitted from over £50m of EU funding since 2008. This funding enables Universities to conduct ground breaking research, benefitting the local economy and increasing economic growth.
In comments made in Newcastle after visits to businesses in the area, Angela Eagle MP said: “The North East is rightly proud of the pioneering research being under-taken by its universities in Newcastle and Durham. The research at both universities and the potential spin-offs can play a huge part in driving growth and diversifying the North East’s economy.
“These figures highlight the risk to our universities of the UK leaving the European Union.
“EU funded research at the UK’s leading universities has led to vital scientific discoveries, including potential treatments for cancer and heart disease.
“Leaving the EU would put… our competitive advantage and highly-skilled jobs at risk”.