Wales is proud to be a part of the European Union, and any move by the UK to exit the EU would be bad for Britain and particularly devastating for Wales, Finance Minister Jane Hutt will say today [Thursday 14 March].
Speaking at the Wales Forum on Europe event “Europe’s Agenda for Growth and Jobs” in Cardiff, the Minister will say that Wales benefits greatly from membership of the European Union.
The Minister will emphasise that:
- Wales and Welsh businesses have benefited enormously from access to the Single Market – the world’s largest market in GDP terms and Wales’ largest single trading partner – since its inception in 1992.
- 150,000 jobs in Wales depend on access to the Single Market and the distinct benefits this provides in facilitating trade and investment.
- 500 firms from other Member States are based in Wales, providing over 59,000 jobs.
- The Welsh farming sector benefits significantly from EU funds through the Common Agricultural Policy, providing £260 million a year in single farm payments to more than 16,000 farm businesses in Wales.
Wales also benefits from billions of pounds of European Structural Funds, with some £1.9bn invested to 287 projects, representing £3.7bn of total project investment to help Welsh businesses, communities and environment thrive, and help people into work and training. This investment has:
- helped 169,000 people to gain qualifications;
- helped over 38,700 people into further learning;
- helped 55,000 people into work;
- created 8,200 enterprises; and
- created 24,600 (gross) jobs.
While there are also significant opportunities for business and people through other EU funding programmes, such as Horizon 2020, the research and innovation fund and the ERASMUS plus programme for education and skills, worth €79 billion and €15 billion, respectively, across EU regions.
Jane Hutt will say:
“The EU is essential to the future success of both Wales and the wider UK.
“In these challenging economic times I want to reaffirm the Welsh Government’s commitment to the creation of sustainable jobs, enhancing skills and boosting growth across Wales.
“We will do this by investing in business, infrastructure, tackling poverty and creating jobs for a highly skilled workforce – vital areas which will require serious, long-term commitment.
“As a pro-EU Government, we will continue to work with both the UK Government and the European Commission and do all that we can to eradicate structural barriers to growth and help to ensure that Wales, the UK and Europe realise our shared goals for the benefits of our citizens and communities.
“As a Welsh Government, we are very concerned that the possibility of a UK exit is even being considered as such an outcome would be bad for Britain and particularly devastating for Wales.
“Despite the fog of confused criticism and misleading rhetoric we are exposed to on Europe, I can think of no better partner than the European Union in helping us rise to meet these great, long-term challenges which are of such vital importance to the people of Wales.”
