The UK Government has been accused of a "straightforward breach of a manifesto pledge to fully replace EU regional funds coming to Wales and other parts of the UK.
The Welsh Government has calculated that it will be worse off by nearly £1bn a year over the next three years. It said around £750m would be missing in structural funds, which had gone to the least well off areas of the nation, and £242m in support for farmers.
A statement issued by the Department for Levelling Up, Housing and Communities said shows that the amount of newly budgeted UK funding will not fully match the EU funding to Wales until the 2024-5 financial year. Figures from the latest spending review show annual spending will rise from £400m this year to £700m in 2023-24 and £1.5bn in 2024-5.
