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Today the Finance Secretary Mark Drakeford will talk about how EU funding will be replaced following the UK’s departure from the EU.

First published:
12 October 2018
Last updated:

This was published under the 2016 to 2021 administration of the Welsh Government

The event which will be co-hosted by Julie James AM and Derek Vaughan MEP, will examine issues including how funding currently received from the EU should be replaced, how powers returning from the EU should be exercised in future, and how current arrangements which ensure a high degree of control by the Welsh Government and its partners over the way the funding is used can be built upon.

Speakers will also include former Scottish Secretary, Michael Moore Director of Strategic Business Development at Tata Steel, Deirdre C Fox, and Chair of ABMU Health Board, Professor Andrew Davies.

Speaking before the event, the Finance Secretary said:

“Through our Regional Investment in Wales after Brexit paper we have called for every penny of the £370 million that Wales currently receives from the EU’ Structural and Investment Funds each year to be replaced by the UK government and added to the Welsh Government’s annual budget.

“We are best placed to lead on regional investment in Wales. Over almost 20 years we have built up the experience, working closely with the regions of Wales, businesses and communities, who know what they need and the kind of investment that would benefit them.

“We have networks across Wales and the machinery on the ground to effectively devise and deliver regional investment. Whitehall simply does not have and cannot replicate this.

“Just as the Welsh Government is best placed, working with partners, to provide an overarching Welsh policy, each region is best placed to identify specific priorities, challenges and opportunities in their places and for their people.”

The ‘EU Funding post-Brexit’ event will take place between 2:00 and 5:30 pm at the Energy Safety Research Institute, Swansea University Bay Campus.