FINANCE

Leaders fear losing out after EU reviews funding policies

UK and European local government leaders have warned councils could take a hit from a new European Commission policy.

UK and European local government leaders have warned councils could take a hit from a new European Commission (EC) policy linking the payment of regional funds to the financial state of national governments.

The political groups in the 344-member Committee of the Regions (CoR), which represents local and regional government across the 27 states, have issued a statement attacking the EC's decision to withhold €495m of Cohesion Fund cash earmarked for Hungary in 2013.

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