Post-EU Funding Arrangements

Part of 1. Questions to the Minister for Finance and Local Government – in the Senedd at 2:16 pm on 26 October 2022.

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Photo of Joyce Watson Joyce Watson Labour 2:16, 26 October 2022

The Senedd's Finance Committee reported this month that Wales is in danger of losing out financially if the UK Government fails to co-operate with the Welsh Government on post-EU funding. That's despite repeated Tory promises that Wales would receive not a penny less as a result of Brexit. Clearly, we must have that co-operation from the UK Government and the Tories must honour their pledge. But do you agree with me, Minister, that Wales is already losing out? The former Governor of the Bank of England has pointed out that in 2016 the British economy was 90 per cent the size of Germany's. It is now less than 70 per cent. And analysis by the Economic and Social Research Institute calculates that Brexit has led to a 16 per cent drop in trade from the UK to the EU. So, as well as a fair funding settlement for Wales, do you agree with me that we need urgently to rebuild Britain's economic ties with our biggest trading partner and reduce barriers to trade?