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‘West Wales and Valleys would take a huge financial hit if Labour MPs had their way’ – Eluned Parrott

January 30, 2012 5:37 PM

Eluned Parrott AM has strongly criticised suggestions that Jack Straw MP will on Monday call on David Cameron to repatriate £4.2bn in EU funds to Britain.

As European leaders examine proposals on Monday at summit in Brussels to spend more than €80bn (£67bn) of structural funds across the EU on boosting economic growth, Straw leads a group of senior Labour MPs calling for the cash to be allocated by Britain.

Eluned Parrott, Welsh Liberal Democrat Shadow Minister for Europe, commented:

"I strongly disagree with Jack Straw's comments about European funding. Clearly the Eurosceptics have been dripping poison into his ear. West Wales and the Valleys would take a huge financial hit if Labour had their own way.

"Under their plan, Wales could well be a loser in a UK wide distribution of these funds as other parts of the UK could benefit at the expense of struggling regions in Wales.

"It is also in Wales' best interests to ensure that all of Europe has an opportunity to prosper as a huge proportion of Wales' exports go to the European Union. A healthy European market means more opportunities for Wales."