I would say in the first instance that the hon. Gentleman is calling for a second referendum, which would create the greatest uncertainty for the UK, both economically and constitutionally. I also point out that exports from the UK are growing, and at a faster rate than areas outside the European Union, and he well knows that exports from Wales cannot be taken in isolation without considering the wider procurement and networking of businesses across the UK.
My hon. Friend is obviously very interested in how the successor to European aid programmes will work, as I am in relation to west Wales and the valleys in general. We have committed to a UK shared prosperity fund, which will allow us—this is one of the benefits of leaving the European Union—to come up with a much simpler and more targeted approach that can help the poorest communities across the UK.