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Labour need to learn lessons of European Funding Failure-Eluned Parrott AM

March 13, 2012 5:12 PM

GDP for 2009 has slipped in West Wales and the Valleys to 68.4% of the average. This compares to 110.7% for the UK as a whole. West Wales and the valleys is behind such geographical areas as:

Shadow Business Minister for the Welsh Liberal Democrats, Eluned Parrott AM said "This is more evidence, if any were needed, that Labour have monumentally failed the people of Wales. Instead of learning lessons from previous rounds of European funding we appear to be sliding backwards.

"Given the severe difficulties that Greece and other European economies have experienced in recent years, we might have expected to gain some ground against our neighbours, but sadly, yet again, Wales is propping up the bottom of the tables rather than leading the way.

"We must have a strong, pro-active vision for the future of West Wales and the Valleys if those areas are to regain their place as the engine-room of the Welsh economy.

"There are some caveats to the statistics but this remains a strong indication of Labour's failure."