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Wales hit hard by financial crisis

Just how badly Wales was hit by the global financial crisis has been revealed today. Average wealth fell sharply between 2008 and 2009 pushing Wales below 80 per cent of the European Union average.

West Wales and the Valleys slipped below 70 per cent, confirming that the area is poorer than anywhere else in the United Kingdom and making it almost certain that it will again qualify for the top level of European aid.