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Welsh Government announces £50m fund to prepare Wales for Brexit

Credit: ITV Cymru Wales

First Minister Carwyn Jones has announced a £50m fund to help Welsh businesses and public services plan and prepare for Brexit.

The Welsh Government says the fund will provide a combination of financial support and loan funding, and will support the provision of technical, commercial, export-related and sectoral-specific advice for businesses.

It says it will also be designed to help employers retain and continue to attract EU nationals.

"The fund will underline Wales’ welcome to people from other countries who have made Wales their home."

Brexit poses different challenges and opportunities for each and every aspect of Welsh life – from our local businesses and major employers, to our farmers, hospitals and universities.

The EU Transition Fund will help meet the challenges that lie ahead. Developed in partnership with our businesses and public services, it will provide targeted and innovative support, which will help them survive and, indeed, thrive outside the EU.

I am making an early announcement about this fund, so we have the greatest opportunity to design this fund with those organisations and businesses it is intended to help.

My priority is to ensure Wales is in the best possible position to deal with the challenges and opportunities ahead. As a government, we are committed to providing solutions which work for Wales and we will continue to work with partners to make the most of every opportunity.

– Carwyn Jones, First Minister