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Emeritus Prof Christopher May

's long delay on rejoining looks to have gained little:

EU initially offered 2 years non-payment as UK had been out of the programme for its first 2yrs ... now extended to 3yrs, but as we are only joining near the end of year 3 of Horizon 2020, at the most this accounts for 4 month's payments;

there's also a slightly more generous 'clawback' mechanism if we get less than 16% of all grants (i,e. less than we're putting in).

Not much for disabling UK's collaborative science!