The Welsh Conservatives have criticised the reduction in funding Wales will receive as part of a new ‘Local Growth Fund’.
Under the previous post-EU funding model, the Shared Prosperity Fund, the UK Conservative Government allocated £585 million to Wales over three years. Under the new model, Wales will receive £547 million over three years – £38 million less.
Commenting, Welsh Conservative Shadow Cabinet Secretary for Economy and Energy, Samuel Kurtz MS said:
“Under Labour, Wales was promised more funding, not tens of millions of pounds less.
“The Welsh Labour Government getting to hold the purse strings does not fill me with hope, as they routinely waste taxpayers’ money on vanity projects like the creation of more politicians or on non-devolved areas like their pointless overseas embassies and Ugandan tree planting.
“This funding should be used to support struggling Welsh businesses who have had to contend with Labour Governments at both ends of the M4 hitting them with higher taxes.”
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