Part of 1. Questions to the Minister for Finance and Trefnydd – in the Senedd at 1:39 pm on 6 March 2019.
Thank you very much. This announcement came out of nowhere to us and we're still trying to work through with the UK Government to what extent the funding is new money. I understand that around £1 billion of that is potentially new money. So, I think we would be looking at consequentials of around the region of £50 million, if our understanding is confirmed to be true. The other £600 million, I understand, would be for towns to bid into, and we would be able to bid in to that, or potentially have consequential funding from that, but unfortunately it's proving extremely difficult to get clarity from the UK Government on this. I see this very much as a bribe to towns across England. It offers nothing like the kind of funding that we would have, in Wales certainly, attracted from the European Union—£350 million a year. So, the £50 million consequential is just a drop in the ocean, should that figure be the correct figure.