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The Conservative leader of the Opposition in the Assembly has swiftly responded to the First Minister's attack on the EU budget deal. Andrew RT Davies says David Cameron achieved 'an historic agreement' in Brussels last Friday and he's accused Carwyn Jones of 'opportunistic whinging'.
The Shadow Chancellor, Ed Balls, said on Friday that if the Prime Minister had secured a 'genuine real terms cut' in the EU Budget then he will have delivered what Labour and Parliament demanded.
The First Minister, who's leading a trade mission to California, has given the Welsh Government's first detailed reaction to the EU budget deal. Carwyn Jones says its impact on west Wales and the valleys is as bad as feared. He also warns about the effect on the rest of Wales and on farming.
Earlier today, the Prime Minister said he expected 'fruitful talks' about how European funds should be distributed. The entire seven year budget has still to be approved by the European Parliament, which could reject it.
The Prime Minister has floated the idea of an agreement between different parts of the UK to protect regions that face cuts in European aid. The Welsh Government has warned of a £400 million cut in funding to west Wales and the valleys over the next seven years, following Friday's EU budget deal.
David Cameron told MPs that total aid to Britain is broadly unchanged at roughly £10 billion. That's because new 'transition' regions and even wealthy regions will also attract some funding, although west Wales and the valleys is the only part of the UK to remain one of the EU's poorest regions.
The European Commission says it will be more flexible than in the past about how the money is allocated within each member state. It's suggested that the UK could increase the allocation to west Wales and the valleys by up to 2%, which would be about £30 million on the Welsh Government's figures.
European Council President Herman van Rompuy says the Budget agreed by EU leaders means poorer countries in the Euro zone will get a bigger share of regional aid. The deal will leave less money for west Wales and the valleys, a poor region of the UK, which is one of the EU's wealthiest members.
Plaid Cymru MP Jonathan Edwards says the cut in the EU Budget could have a 'devastating impact' on some of Wales' poorest communities. He claims that the total loss to Wales over the next seven years will be around £1billion.
The deal in Brussels means the richest countries, including Britain, will contribute most of the savings. Aid to west Wales and the valleys will be cut by an estimated £400 million over seven years, according to the Welsh Government. The UK's net contribution to the EU is expected to go up.
The Budget has to be approved by the European Parliament and Mr Bufton says he thinks it's likely to be defeated. The Plaid Cymru MEP Jill Evans says a detailed analysis of the impact on Wales is needed before the vote in March.
First Minister Carwyn Jones says he's disappointed with today's EU Budget deal, and claims Wales be 'up to £400m' poorer as a result.
David Cameron said the new budget agreed by European Union leaders was "a good deal for Britain".
"The best way to protect the British taxpayer is to get overall spending down, which we've done. Our contributions were always going to go up, now they'll go up by less," said the Prime Minister.
"I think the British public can be proud that we have cut the seven-year credit card limit for the European Union for the first time ever."
Latest ITV News reports
The man in charge of EU regional aid says it can't all be spent in the poorest regions but the Prime Minister says Wales needn't lose out.