15
Accepted
For the past twenty years, Wales has received more European Structural Funds than any other...
Conclusion
For the past twenty years, Wales has received more European Structural Funds than any other part of the UK in an attempt to bring the Welsh economy up to the EU average. This funding which is worth hundreds of millions of pounds each year is all the more important at a time when the COVID-19 pandemic has inflicted major economic damage.
Government Response Summary
The government acknowledges the pandemic's impact and details its plans to provide £220m in additional funding for 2021-22 for local areas to transition from EU structural funds, with the long-term UKSPF investing in people, communities, and businesses to level up.
Paragraph Reference
83
Government Response
Accepted
Government Response
Accepted
HM Government
Accepted
The Covid-19 pandemic continues to present exceptional circumstances, and it is right that our focus and priorities shift accordingly. The Government has conducted a one-year Spending Review to prioritise the response to Covid-19 and focus on supporting jobs. Despite these challenging times, it is important we do not lose sight of our long-term objectives. Prior to the launch of the UKSPF, the UK Government will provide £220m of additional funding in 2021–22 for local areas to pilot programmes and new approaches. Alongside the unprecedented support the Government continues to provide in response to the pandemic, this additional funding will help local areas start to transition away from EU structural funds from 2021. In our longer-term vision for the UKSPF, the fund will invest in people, communities and local business to level up and create opportunity in places most in need and for people who face labour market barriers. This investment will support improved employment outcomes and drive productivity across the UK, supporting the recovery and renewal of local economies. The funding will also help to address the ongoing skills shortage in Wales and narrow the GDP gap between Wales and the rest of the UK.
Source
Committee
Welsh Affairs Committee
Addressee Bodies
Wales Office
Timeline
Recommendation age
5.8 yrs
Report published
02 Oct 2020