The Welsh government have raised the concern, as I & others have in Cornwall, that the government in Westminster is ‘double counting’ payments from the old EU funding that finishes running off at the end of 2023.
If we had stayed in the EU, the new funding package would have been announced when the old one ended in 2020.
Vaughan Gething, Welsh economy minister, said - “Instead of having fresh or new money to commit each and every year, the UK government is including spending committed under previous years in its calculation for this year’s funding,”
We only got £1 million from the Community Renewal Fund this year. The government is relying on EU run-off money from the last cycle to make up the £99 million difference. Stretching the last EU fund over 10 years instead of the 7 years it was meant for.
I am glad it’s not only us in Cornwall who have worked out that this doesn’t add up!
The Shared Prosperity Fund in no way gets anywhere near EU funding levels - rising to £1.5bn only in 2024/5. The Treasury Select Committee expressed ‘surprise’ that the fund will be 40% short on EU levels, despite Conservative promises that no nation (including Cornwall) will miss out.
ft.com 1 Feb 2022