With EU funds set to tail off at the end of this year, the new
‘Framework for Regional Investment for Wales’ is our strategy for
achieving prosperity across the nation and a more inclusive
economy, with a greater role for our regions in how funds are
spent.
, Minister for
European Transition, said that in order to deliver this
Framework, the UK Government must keep the promises they made to
the people of Wales, that we will not lose a penny of investment,
and that the devolution settlement must be respected.
Since the EU Referendum in 2016, the Welsh Government has
listened to the views of hundreds of organisations across Wales
on how replacement EU funds should be invested, including a
public consultation earlier this year.
The new Framework has been produced in partnership with local
authorities, the private sector, research and academia, and the
third sector, and has also received the backing of the OECD.
The Framework has four broad priorities for investment. They are;
- More productive and competitive businesses,
- Reducing the factors that lead to economic inequality,
- Supporting the transition to a zero-carbon economy,
- Healthier, fairer, more sustainable communities.
Minister for European Transition said the
Framework was a testament to a true Made in Wales approach and
urged the UK Government to honour its commitment to replace EU
funds and for the Welsh Government to retain the devolved
autonomy in the development and delivery of successor
arrangements so that new investments can re-start in Wales early
next year.
said, “I am
delighted to announce that Wales is now ready to re-start a
programme of regional investment. We’re in this position
because we have worked hard with our partners in Wales to
develop an approach that meets local needs as well as
increasing prosperity and tackling inequalities across our
nation.
“I am extremely grateful to everyone involved for the
commitment, enthusiasm, and expertise with which they have
engaged with us on this. Together we have come up with a
Made-in-Wales solution to a significant challenge.
“In the past year, like other countries around the world, our
economy, people and communities have also been hit hard by the
Covid pandemic. This Framework has a crucial role to play in
how we recover, particularly in terms of how we tackle
inequalities and promote wellbeing.
“The delays and lack of clarity from the UK Government on the
Shared Prosperity Fund, and particularly the Internal Market
Bill, have threatened the years of hard work invested in
developing these new arrangements for Wales. It’s time they
stepped up too, and deliver on their long-promised funding, so
that we can deliver new investments early next year.”
