The UK government has launched a £ ##500 ( $ 2.1bn ) post - Brexit fund for deprived English towns in what the Labour Party has called an attempt to bribe its MPs in Leave - supporting areas to support prime minister Theresa May 's withdrawal bill when it comes back to Parliament on 12 May . The fund will allocate £ 1bn on a needs - based formula and £ 600 ##m via community bids over a period of seven years , with more than half the money going to the north of England and the Midlands . Labour MP David Sobel said the fund was nothing compared to the cost of leaving the EU .
The UK government has launched a £1.6bn ($2.1bn) post-Brexit fund for deprived English towns in what the Labour Party has called an attempt to bribe its MPs in Leave-supporting areas to support prime minister Theresa May's withdrawal bill when it comes back to Parliament on 12 March. The fund will allocate £1bn on a needs-based formula and £600m via community bids over a period of seven years, with more than half the money going to the north of England and the Midlands. Labour MP Alex Sobel said the fund was nothing compared to the cost of leaving the EU.