Wales: Replacement Funding

Lord Berkeley of Knighton Excerpts

Wednesday 3rd March 2021 Lords Chamber

[Lord Greenhalgh (Con)]

My Lords, I cannot make specific funding commitments. However, I point out that as well as the UK shared prosperity fund we have talked about the additional funding of £220 million. There is also the levelling-up fund, which provides further opportunities for funding in the devolved Administrations. All of this will go to ensure that we deliver the levelling-up agenda between and within areas.

[Lord Berkeley of Knighton (CB) [V]]

My Lords, I associate myself with the comments of the two previous speakers. I want to ask the Minister a specific question. When Brexit was being discussed, we heard of European companies which might be shutting down or withdrawing from Wales, particularly south Wales. Have the Government made any assessment of whether that has come to pass and should not money go to those areas that might be very deprived now?

[Lord Greenhalgh (Con)]

My Lords, the whole purpose of the UK levelling-up fund of some £4.8 billion is precisely to provide the funding to underpin the regeneration required to make areas in Wales as competitive as possible. Of course, we keep changes in the industrial landscape under close scrutiny.