Wales to receive almost £2bn in European aid

Wales is set to receive almost £2billion in European aid over the next six years. The money will be invested in some of the poorest parts of the country, including west Wales and the valleys.

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Minister pledges simpler, more focused EU projects

Welsh Finance Minister Jane Hutt says the next round of programmes funded by European money must be more flexible, simpler and 'more focused' than in previous years. She was responding to the news that agreement has been reached paving the way for a new programme of funding worth £2bn to Wales.

She also said Welsh Government plans for a Metro scheme linking public transport in south eastern parts of Wales will be a likely beneficiary of the money.

European aid will have a real impact says minister

The Welsh Government has welcomed the agreement on how the next £2 billion of European aid will be spent in Wales. The minister who negotiated the deal, Jane Hutt, says that it will deliver real economic growth and jobs.

This announcement is a significant milestone with the European Commission confirming Structural Fund allocations to Wales of over £2 billion. This is great news for Wales and this new EU funding will have a real impact on the Welsh economy and job creation. It will help us deliver more innovative and inspiring EU-funded projects.

– Finance Minister Jane Hutt AM

There's been criticism that previous rounds of European aid have been spent on too many small projects, which though worthwhile in themselves did not improve the prosperity of West Wales and the Valleys. The area remains one of the poorest parts of the entire European Union.

Whilst this funding will be welcomed, we must not forget that it has only been granted due to the failure of successive Welsh Labour Governments to improve Wales’ economic performance in previous tranches. Back in 2000, former First Minister Rhodri Morgan described Objective 1 funding as a ‘once in a lifetime’ opportunity. Well here we are again, and under Welsh Labour parts of Wales remain amongst the poorest areas in the EU, never mind the United Kingdom

– Welsh Conservative Leader Andrew RT Davies AM

One of the main beneficiaries of the new funding will be the South East Wales metro plan to improve public transport, after the Welsh Government successfully argued in Brussels that some of the money had to be spent on transport if the aid programme was to achieve any lasting economic improvement.

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Deal struck on European aid

The funding runs from 2014 to 2020. Credit: Tim Goode/EMPICS Entertainment

A deal's been formally struck for Wales to get almost £2bn of European aid.

The cash, over the next six years, will be used to help tackle unemployment and boost economic growth.

Another £509m pounds will be used for rural development.

Through thematic concentration, the Welsh Authorities aim to ensure that tailored interventions are made in areas which provide the highest added value and opportunities for growth and jobs. The Welsh investment strategy builds on the significant contribution Wales is already making to help the EU meet its goals of smart, sustainable and inclusive growth. The Welsh Authorities now have a firm basis in this Partnership Agreement to provide strategic direction to future programmes that will exploit innovation, transform the economy into a model for sustainable growth, encourage the exploitation of renewable energy sources and strengthen the skills of the population.

– Commissioner for Regional Policy, Johannes Hahn
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