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Economic situation: Wales

Treasury written question – answered on 12th May 2020.

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Photo of Nick Smith Nick Smith Labour, Blaenau Gwent

To ask the Chancellor of the Exchequer, what steps he is taking to support economic recovery in Wales after the covid-19 outbreak; and whether he plans to introduce the Shared Prospeity Fund to help aid that recovery.

Photo of Kemi Badenoch Kemi Badenoch The Exchequer Secretary

The Treasury’s priority is to support the whole UK economy through the immediate crisis – including in Wales. We have taken unprecedented steps to keep as many people as possible in their existing jobs, support viable businesses to stay afloat and protect the incomes of the most vulnerable. These measures aim to protect the productive capacity of the whole UK economy and to enable a strong and sustainable recovery from this crisis.The government will use the UK Shared Prosperity Fund to level up opportunity in each of our four nations. This means investing in people, improving their life chances. The government will set out plans for the Fund in due course.

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