Wales has received more than £4 billion in European structural fund support since 2000, almost half of which will have accrued in the current spending round. The UK Government recognises the vital role that European structural funds have played in Wales over the past two decades, and has committed, at a minimum, to matching current levels of funding for each nation. We are determined that Wales will not be out of pocket now that we have left the EU, and the UK Shared Prosperity Fund will be instrumental in making good on this.
In terms of the powers that the Welsh Government will have over these funds, the UK Government is fully committed to respecting devolution and the devolved institutions. We want to ensure that the UK Shared Prosperity Fund can deliver for the people of Wales, and the Secretary of State for Wales has had positive discussions with colleagues in the Welsh Government on how our two Governments can work together to make a success of the Fund.