NEWPORT East MP Jessica Morden joined fellow Welsh MPs in calling for clarity for the UK Government on the future Shared Prosperity Fund designed to replace current EU funding for nations and regions of the UK.

After the UK leaves the European Union, it will no longer receive structural funding - which is worth about €2.4 billion per year.

This funding is used for boosting several aspects of economic development, including support for businesses, employment and agriculture, and is administered by the different nations of the UK.

In order to replace this funding, the Government has pledged to set up a Shared Prosperity Fund to “reduce inequalities between communities”.

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And during a Westminster Hall debate this week, Welsh MPs highlighted the importance of ensuring that Wales does not receive ‘a penny less’ under any new funding scheme.

Ms Morden also cited the twentieth anniversary of devolution in Wales in the debate, and reiterated the importance of ensuring that any new fund respects the devolution settlement and the role of the Welsh Government.

She said “Wales currently receives £370 million a year from European investment and structural funds, which have helped create 45,000 jobs and 12,900 new businesses.

"We’ve also seen the benefits of this funding here in Gwent through employment and economic growth programmes like Inspire to Achieve and Inspire to Work which aim to reduce the number of young people not progressing into employment, education or training.

“It’s vital that Wales does not lose out under any funding stream, and any new funding source should not undermine the devolution settlement.

"Replacement funding must flow directly to the Welsh Government and it must be for Wales to determine its use, just as EU funds currently come directly to Wales and Welsh Government Ministers determine how they are used.”