The Welsh Liberal Democrats have called on the UK Government to
ensure the Shared Prosperity Fund delivers for Wales ahead of this
afternoon’s Senedd debate. The Welsh Liberal Democrats are calling
for the fund to ensure Wales receives not a penny less than it
currently receives from the EU and for the Welsh Government to
control how the money is spent in Wales.
A Shared Prosperity Fund was proposed in the Conservative Party’s
2017 general election manifesto and featured in the UK
Government’s Industrial Strategy white paper later that year.
Since then there have been precious few details about the
proposed fund. This is despite the fact a consultation was
supposed to have taken place last year.
Independent analysis from Communities in Charge has calculated
that Wales would lose out by £743.11 per person if the fund was
allocated in the same way as UK Government funding instead of the
way EU funding is distributed.
Welsh Liberal Democrat Leader said:
“We know Wales has long been a substantial beneficiary of EU
funding. This is no accident, we receive this funding because we
remain one of the poorest parts of the UK. Any fall in funding
after Brexit will increase reginal inequality, push more people
into poverty and leave more communities behind.
“In June 2016 Vote Leave promised that ‘every region, group and
recipient of EU funding will continue to get that money’ after
Brexit. They may have forgotten this promise but we haven’t.
Wales must receive not a penny less after Brexit.
“I urge the UK Government to provide more details on the Shared
Prosperity Fund at the earliest opportunity to provide
communities with the certainty they need. I also call on the UK
Government to confirm that the fund will fully respect
devolution.”
DIWEDD / END
Notes
Wales would lose more than any other area by allocating the
Shared Prosperity Fund on the same basis as existing UK
Government economic development spending. Wales even loses more
than the other six ‘loser’ areas combined.
Wales would lose £2.32 billion, which works out as £743.11 per
person. Wales receives 5.8% of the UK's economic development
spending but 21.9% of the UK's structural funds.
The report from Communities in Charge can be found here
