Shared Prosperity Fund? More Like Shared Uncertainty Fund

Chris Elmore, MP for Ogmore, has slammed the uncertainty facing Welsh businesses post-Brexit amidst the continued lack of clarity from the government over the Shared Prosperity Fund.

The UK-wide fund has been proposed as a means of replacing regional development funding currently provided by the European Union. The fund is intended to come into force in 2020.

Speaking during a debate in Westminster Hall, the Ogmore MP criticised the intransigence of UK Government ministers who have so far been unable to give any details of how the fund will work.

Chris has previously asked ministers in the Wales Office, the Department for Business, Energy and Industrial Strategy and the Treasury for clarity as to how much funding will be made available and how this will be allocated. He has been, as yet, unable to garner an adequate response.

Chris Elmore MP said:

“It just beggars belief! I mean, we were meant to be leaving the EU on March 29th and businesses and the Welsh Government have no idea how this so-called prosperity fund will work when it’s meant to start in 2020.

“We might as well rename it the Shared Uncertainty Fund because at the moment, that’s all it’s providing.

“As with everything from this utterly chaotic government, they’re turning a blind eye while we sleep-walk towards another period of underinvestment as a result of this uncertainty. It’s just not good enough.”

Members attending the debate commented on the government’s continued paralysis over Brexit and the real impact this was having on communities.

Chris intends to speak out on this issue again next week when a further debate on the issue is being held.

Published and Promoted by Carys Price on behalf of Chris Elmore both at 44a Penybont Road, Pencoed, CF35 5RA.

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