Wales: Economic Investment Projects

Lord Thomas of Gresford Excerpts

Tuesday 12th July 2016 Lords Chamber

[Lord O'Neill of Gatley]

My Lords, as a keen football supporter, let me also add my congratulations on the performance of Wales. I look forward to Manchester United signing some of those players. On the specific question from the noble Lord, that is a matter for the next Prime Minister. What has been committed to in the specific deals between this Government and the various places, particularly Cardiff city, will of course be stood behind.

[Lord Thomas of Gresford (LD)]

My Lords, if I could put a figure on it, £0.5 billion a year of EU investment funds are coming to Wales. Surely the Government will take note of the fact that those who were in favour of Brexit said it was “our” money, and not EU money. Perhaps we can have some of “our” money in the future. Will the Minister guarantee that?

[Lord O'Neill of Gatley]

My Lords, I suspect that this will be a rather repetitious session. It will be a decision for the new Prime Minister. Wales is not the only place in the United Kingdom that is in this position, and there are many others that we have to consider.