Control of £547m Local Growth Fund returns to Wales
The Welsh Government has set out its plans for the £547m Local Growth Fund, which will be used to boost the Welsh economy.
On a visit to Ebbw Vale today (23 March) the First Minister will announce details of the Investment Plan, endorsed by the Welsh and UK governments.
It will set out the financial allocations for each priority area and for each of the four Welsh regions over the next three years.
The three priorities for which the Local Growth Fund is allocated are:
- Supporting productive and competitive businesses
- Increasing skills and helping people into work
- Building infrastructure
The Fund is designed to empower Wales’ regions, and target areas with the greatest need to increase productivity, help
Following the funding agreement with the UK Government, money will be allocated based on tailored spending plans which will set out the opportunities and needs in those regions.
Investment will reflect regional economic
The First Minister, Eluned Morgan, said: “I’m really pleased decisions on this post-EU funding, which is so important in supporting regional and local economic growth in Wales, is being returned to the Welsh Government.
“We want to use all the levers we have to stimulate economic growth, especially in parts of Wales where economic inactivity and unemployment are higher and wages are lower.”
Cabinet Secretary for the Economy, Energy and Planning, Rebecca Evans, added: “The Local Growth Fund for Wales will help create and secure jobs in key industries, providing
“We will work with local government and other partners to ensure the Fund, alongside other programmes, is best used to create jobs, unlock growth and deliver for Wales.”
Secretary of State for Wales Jo Stevens said: “This transformational funding will create jobs, boost productivity and support economic growth across all parts of Wales.
“Decisions about how funding is used in Wales are best made in Wales and the agreement we have reached with the Welsh Government delivers our manifesto commitment to restore decision‑making on post-EU funding to Wales.
“It is another example of the UK and Welsh governments working together in partnership to deliver for our communities.”
The Investment Plan is published here: Regional investment in Wales after Brexit | GOV.WALES.
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Are they actually bigging themselves up for returning the money that should never have been taken from Wales in the first place?
The tories introduced setup UKSPF in 2022, it ran to 2026. Labour came into power in 2025, on the promise that they will adjust the UKSPF and devolve this. Obviously, they let UKSPF run it’s course as it take a lot of effort in whitehall to move around pots of funding and setup structures – so this avoided any cliff edges to councils. But it’s worth stressing, the tories still allowed for local bodies to decide spending. So -Tories, funding went UK government-> Local councils And – Labour funding will go, UK government-> WG-> Local councils It’s hardly a big… Read more »
One of the challenges is that funding has to be applied for by each region.
I’m a member of Rhondda Tunnel society – volunteers and no corporate sponsor, so will take years to fundraise.
Council staff in NPT are doing an excellent job with the Tata Transition fund, but do not have the experience and size of team as Cardiff Capital Region – CCR / Invest Cardiff / networks through Universities.
CCR should manage all funding in that region and redeploy all other staff.
When the self‑proclaimed “architects of devolution”, UK Labour, were in opposition, they promised they would return to Wales the post‑EU funding powers taken by Boris Johnson. They didn’t, instead offering only “shared responsibility”, effectively rolling back devolution. And although the return of any powers is welcome, UK Labour—now two years into government—want to pat themselves on the back for doing so. It is no coincidence that, just two months before the Senedd election—where Welsh Labour fear losing their grip on power—they have delved into their pre‑election “sweetie bag” to curry favour with voters. I predicted this. What frustrates me most—aside… Read more »
The First Minister is on n a visit to Ebbw Vale (AKA Brexit central), please don’t say Blaenau Gwent are going to get a penny of this fund. Ebbw Vale and the Works have been rebuilt by EU funds and they wanted out.
Anywhere that voted to create this mess shouldn’t get a penny.
Ebbw Vale had the ultimate vanity project with zero economic benefit – Garden Festival in 1990s. It filled Abergavenny hotels for a few summer months where I worked, legacy of well-paid jobs to boost the region? That project showed the region as a temporary tourist destination; money could have been spent there on jobs – but all the well-paid government jobs transferred from London to Wales are in Cardiff! Welsh Valleys could have been location for UK government AI projects – but all outsourced to USA organisations that register profits in Dublin to avoid taxes. Heads of Valleys road is… Read more »
Just noticed on LinkedIn that Eluned has not mentioned her current role
http://linkedin.com/in/eluned-morgan-8369aa1a
clearly ready to move on!
“They’ll be singing in the valleys!” After the “glorious success” of the EU’s Objective One (“This program and our devolution will transform Wales!” Rhodri Red Water), so excitingly delivered in Wales and the Valleys, everywhere a Pop Factory, we are now “where we are” as the young people say boarding the train to London. Dramatically reduced, sprayed like a dawn mist. “What’s the economic plan? We don’t have one anymore, THAT’S the plan!” Amazing.