Angela Channing
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Before Brexit, Wales got £357 million of EU funding every year. The UK government told voters in that it would step in to continue to supply the funds to Wales. However, now it must compete for a share of a much smaller fund, intended to cover all regions of the UK and this year it expects to receive only £10 million. The Welsh government may have to make savage cuts to public services to make up the shortfall.
From the Financial Times:
Wales is heading towards a new era of austerity after losing £375m a year in EU economic aid because of Brexit, the nation’s economy minister has said.
Vaughan Gething told the Financial Times that while much funding from Brussels would end this financial year following the UK’s departure from the EU, the government in London had yet to allocate replacement support as promised.
“The Welsh government has to look at the reduced sum of money and make our budgets balance,” Gething said.
“The chancellor said there won’t be a return to austerity. Actually, if money disappears . . . you could find yourselves having to make choices that look very similar to the choices I was having to make as a minister when austerity was at its height.”
All three UK devolved administrations face significant cuts to their incomes after Brexit last year ended the flow of EU money.
From the Financial Times:
Wales is heading towards a new era of austerity after losing £375m a year in EU economic aid because of Brexit, the nation’s economy minister has said.
Vaughan Gething told the Financial Times that while much funding from Brussels would end this financial year following the UK’s departure from the EU, the government in London had yet to allocate replacement support as promised.
“The Welsh government has to look at the reduced sum of money and make our budgets balance,” Gething said.
“The chancellor said there won’t be a return to austerity. Actually, if money disappears . . . you could find yourselves having to make choices that look very similar to the choices I was having to make as a minister when austerity was at its height.”
All three UK devolved administrations face significant cuts to their incomes after Brexit last year ended the flow of EU money.
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