Brexit: Welsh Economy - Question

Part of the debate – in the House of Lords at 2:52 pm on 13 November 2018.

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Photo of Lord Bourne of Aberystwyth Lord Bourne of Aberystwyth The Parliamentary Under-Secretary of State for Wales, Parliamentary Under-Secretary (Housing, Communities and Local Government) 2:52, 13 November 2018

My Lords, the noble Lord is right about the importance of cohesion funding. As things stand, there is no guarantee that Wales will qualify for Objective 1 funding in the next round —in many ways, one hopes that it does not; it is not a badge of pride. In relation to the future of cohesion funding, he will be aware that the shared prosperity fund is being discussed on a UK basis, with full consultation with Wales to ensure that Welsh interests are properly protected.