Welsh Government on EU deal: 'Wales could lose up to £400m'

We are disappointed that the agreement fails to deliver the level of investment in jobs and growth needed in Wales.

We are especially concerned that the most vulnerable part of Wales - West Wales and the Valleys - appears to be losing out to wealthier regions in the UK. This cannot be seen as a fair reflection of priorities for Wales.

The EU budget deal will mean significant cuts to programmes, including Structural Funds. We need to study the agreement in greater detail but provisional calculations show Wales losing out up to £400m.

The Prime Minister says this is a 'good deal for Britain'. He will need to explain how it's a good deal for Wales.

The Welsh Government has always recognised the need for discipline in the overall EU budget but it cannot be right for EU money allocated to the UK to be siphoned away from poorer regions, like west Wales and the Valleys - to richer regions elsewhere.