The latest figures show that Wales will be hardest hit by the loss of EU structural funds after Brexit.
Wales’ loss of £373m is more than double that of Scotland (£125m) and most English regions that have previously received EU support.
Labor says the figures show a loss of more than £1 billion to “fake” allegations by the UK government that they are raising the bar for the UK.
Steve Reed, Labor Minister for Shadow Churches, she saidThis paper ridicules conservatives’ promise to eliminate the massive regional disparities they have created.
“The government has not only fulfilled its promise to make up for losses in these areas, but is also allowing them to compete against each other due to lack of funding by giving rich areas priority over poor areas.”
The analysis shows that the biggest losers in England are the Midlands (£190m), Yorkshire (£143m), Cornwall (£95m), the North West (£88m) and the North East (£80m).
The EU’s structural funds expired in December 2020 and Wales no longer receives £373m a year in economic aid.
The UK government has promised to replace the lost sum with the Common Prosperity Fund (SPF), but has yet to provide clear details on how it will work.
The Community Renewal Fund is now offering £220m but this covers all UK countries with Wales expected to receive around £10m.
In a recent interview, First Minister Carwin Jones said Welsh voters were promised in 2016 that “Wales would be no worse off with Brexit”.
He said: “Unfortunately, this turns out to be not the case at all. Wales will be in millions of pounds worse next year with Brexit because the UK government is simply not living up to that promise.”
British Prime Minister Boris Johnson delivered an “expansion” speech in July acknowledging that Britain had a “glaring flaw” in its economy.
He said: “It is an astonishing fact that 31 years after German unification, GDP per capita in our Northeast, Yorkshire, East Midlands, Wales and Northern Ireland is now lower than it was in the former German Democratic Republic — and I remember going to the former East Germany in 1990. Immediately after the fall of the Berlin Wall.
While highlighting the problem, his speech was criticized for not offering practical solutions.
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