A Cornish MP has called Chancellor Gordon Brown ' Scrooge' following a decision by the Treasury to change the rules on European grants.
It will mean Cornwall getting less money overall than expected.
Falmouth and Camborne MP Julia Goldsworthy says she is angry at the new rules which will mean a lower contribution from the UK government.
On Monday the government announced that from 2007, Cornwall would get a third more in European grants.
This has been running since 2000 and has so far brought £317m in grants which have mostly been matched pound for pound from government funds and the private sector, providing more than £630 million in total.
Hopes were raised that the increase in the European contribution to near £500 million would mean Cornwall could potentially get close to £1bn by 2013.
However, the Treasury says there will be a change in the top-up rules to allow the government contribution to be reduced.