Stephen Crabb
Main Page: Stephen Crabb (Conservative - Preseli Pembrokeshire)Department Debates - View all Stephen Crabb's debates with the Cabinet Office
(5 years, 6 months ago)
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Alun Cairns
The hon. Gentleman is highly selective in his references. He fails to recognise that my right hon. Friend the Chancellor of the Exchequer has agreed to guarantee the funding for the existing programme until 2020. That gives us the opportunity to design a UK Shared Prosperity Fund with appropriate consultation with the devolved Administrations, as well as with businesses and local authorities, and we are ready for immediate discussions before the consultation.
Stephen Crabb (Preseli Pembrokeshire) (Con)
In the past, too much EU funding was wasted in Wales on low-impact projects that did not help to close the economic gap. Can my right hon. Friend assure the House that the prosperity fund will not just repeat the mistakes of the past, but will be used in high impact projects to renew the Welsh economy?
Alun Cairns
My right hon. Friend makes an excellent point and obviously speaks with experience. He will remember the £38 million Technium project that built nine office spaces across Wales with the support of EU aid, six of which closed after nine years because they were unsustainable. That demonstrates the waste that was in the system: we can design a much better system for local businesses.