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Loss of EU funds is ‘economic vandalism’, says Welsh minister

Image: Senedd Cymru - Welsh Parliament

Economy minister Vaughan Gething hopes budget will compensate university projects for loss of EU funds

Welsh economy minister Vaughan Gething has described the loss of EU research funding as an “appalling act of economic vandalism” as he set out his hopes for tomorrow’s spring budget.

The Welsh R&D sector has been hit particularly hard by the loss of EU Structural Funds, which were used to fund numerous university-related projects. The UK government has promised to replace the funding through its £2.6 billion UK Shared Prosperity Fund, however the Welsh government claims it will leave the country £772 million worse off—putting an estimated 1,000 university jobs at risk.

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