What assessment he has made of the potential effect on Wales of the proposal to limit the allocation of EU structural funds to those member states with a GDP per capita of less than 90% of the EU average.

In February, my right hon. Friend the Prime Minister negotiated a real-terms reduction in the EU budget for the first time in its history, saving UK taxpayers an estimated £3.5 billion over the next five years. I continue to support reforms that are in the best interests of Wales and the United Kingdom as a whole.

Does my hon. Friend agree that imposing reforms in the structural funds would be a fantastic deal for European taxpayers and would enable Westminster to determine best the regional policy that would be in the best interests of Wales?

I thank my hon. Friend for that question and recognise the particular expertise she has developed in this area. We are always open to listening to new ideas for reforming European funding, but I hope that she will recognise the fantastic deal that British, Welsh and European taxpayers got as a result of the historic negotiated agreement to see a real-terms reduction in the EU budget for the very first time.