The county could be £180m better off if the country remains in the EU.

Because Essex now falls below the EU average when it comes to prosperity levels, the area has been classified as a 'Transition Region' rather than a 'More Developed' one.

The upshot of the relabelling is that the county would be eligible for more regional development funds, according to the Conference of Peripheral Maritime Regions.

If Britain remains in the European Union those funds could total up to £180m, paid over a seven year period.

Essex Euro MP Alex Mayer said: “How ironic - the Brexit uncertainty means we would be eligible for more European funding.

"It’s time for the Government to admit their policies aren’t working and explain how they will compensate for lost opportunities, less investment and fewer jobs.”