Three areas - Merseyside, South Yorkshire and West Wales and the Valleys - will have their Objective 1 funding gradually removed over a six-year period.
The money will be diverted to the 10 countries joining the EU this year.
The reason for the decision is that the funding only goes to the EU's most economically deprived areas and, since the new countries are poorer than the existing EU members, the three UK areas are no longer in this category.
See Regeneration feature (YPN, 11-17 February, p16).
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