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“While today’s announcement is a step in the right direction and provides some reassurance to businesses, organisations and communities currently in receipt of EU funding, it doesn’t go far enough.

First published:
13 August 2016
Last updated:

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The First Minister of Wales, Carwyn Jones said:

“While today’s announcement is a step in the right direction and provides some reassurance to businesses, organisations and communities currently in receipt of EU funding, it doesn’t go far enough.  This guarantee only covers about half of the regional funding due to Wales and does not provide the long-term certainty needed - which was promised ahead of the referendum.  

“We now need to hear directly from the UK Government about the detail of this announcement.  We need a ‘full guarantee’ that funding will continue for our existing EU programmes to 2023. It’s also not unreasonable to expect further funding to address Wales’ economic and social needs, particularly support for our most deprived areas after this date. We have made clear to the UK Government that there is now an overwhelming case for a major and immediate revision of the Barnett Formula, to take into account Wales’ needs arising from EU withdrawal.

“Our priority is to continue to fight vigorously for Wales’ interests in discussions on the UK’s exit from the EU so we get the best deal for Wales – not just over the next two years or so while we remain in the EU but up to 2023 and beyond.”

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