European Funding

The European Union budget is made up of a proportion of the VAT charged on goods and services in the Member States, a share of each countries' Gross National Product and custom duties from non-EU country's on goods which are imported into the EU.

A large proportion of these resources are redistributed into four Structural Funds each used to promote the economic and social development of the regions perceived to be lagging behind.

A region may have access to one or more of the four Structural Funds, depending on whether it has Objective 1 or 2 status; all regions have Objective 3 status. The two Structural Funds applicable to the Haringey area are:

• The European Regional Development Fund (ERDF)
• The European Social Fund (ESF)