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 . Mrs May would come back with "something significant" for his, and other, areas outside London. 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 £ ##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 .