29 Ionawr 2026 , Economy, Trade, and Rural Affairs Committee
Cronfa Twf Lleol
So, I can update. Unfortunately, we haven't had any positive progress in that space. I have made the case to the UK Government—I've written to the Secretary of State, Steve Reed. I think we've got a meeting coming up at the start of February as well. We…
29 Ionawr 2026 , Economy, Trade, and Rural Affairs Committee
Cronfa Twf Lleol
So, we're at the point at the moment of discussing a memorandum of understanding with the UK Government, and that will formalise arrangements to ensure that our expectations are aligned. But they are standard practice, where we are using UK Government wider…
29 Ionawr 2026 , Economy, Trade, and Rural Affairs Committee
Cronfa Twf Lleol
In terms of agreeing the returning of decision making, Welsh Government is the accounting officer for the £547 million fund, but the relationship that we have is broadly similar to the structural funds era. So, what it does mean is that there will be a very…
29 Ionawr 2026 , Economy, Trade, and Rural Affairs Committee
Cronfa Twf Lleol
So, the intention at the oral statement is to set out the direction following the consultation. But just to remind colleagues that we've agreed with local government for a further transitional year, at their request. So, the decisions for years 2 and 3 will…
29 Ionawr 2026 , Economy, Trade, and Rural Affairs Committee
Cronfa Twf Lleol
So, in our consultation, the investment priorities and objectives listed offer capital opportunities to help businesses to grow, to ensure there's investment in developing strategic sites, which is something that we talked about earlier in relation to the…
29 Ionawr 2026 , Economy, Trade, and Rural Affairs Committee
Cronfa Twf Lleol
I think the fact that the key things that we've said that we wanted to address in our consultation—that we talked about, that we'd want our funding to address—would be productivity and economic inactivity should give that level of reassurance that that is a…
29 Ionawr 2026 , Economy, Trade, and Rural Affairs Committee
Cronfa Twf Lleol
Well, we're currently considering the methodology for funding from years 2 to 3 onwards, and this is subject to Cabinet discussion, so just to give you a flavour, but to reassure you that the Welsh index of multiple deprivation is an important factor in terms…
29 Ionawr 2026 , Economy, Trade, and Rural Affairs Committee
Cronfa Twf Lleol
We were really keen to learn the lessons of what's gone before, in terms of previous EU funding, but then also the shared prosperity fund. We wanted to avoid what was seen as the overcentralisation, which was a criticism of EU funds, but then also avoid some…
29 Ionawr 2026 , Economy, Trade, and Rural Affairs Committee
Cronfa Twf Lleol
Yes.
29 Ionawr 2026 , Economy, Trade, and Rural Affairs Committee
Cronfa Twf Lleol
Yes, shortly.
29 Ionawr 2026 , Economy, Trade, and Rural Affairs Committee
Cronfa Twf Lleol
We had just over 150 responses to the consultation. Alongside that, we held some regional consultation events—over 200 people participated in those. Also, we've got the regional investment steering group, which is chaired by Carolyn Thomas. That's been really…
29 Ionawr 2026 , Economy, Trade, and Rural Affairs Committee
Cronfa Twf Lleol
Yes, certainly. It is worth as well mentioning that Wales has recorded areas of improvement in productivity over recent years. Labour productivity grew faster between 2009 and 2023 in Wales, with an increase of 14.1 per cent, compared to the UK as a whole…
29 Ionawr 2026 , Economy, Trade, and Rural Affairs Committee
Cronfa Twf Lleol
I would say that Wales has seen significant progress over the last 20 years, or since devolution, in fact, in terms of reversing trends, or certainly reversing gaps, in unemployment, and, until the pandemic, in terms of economic inactivity. What we really…
29 Ionawr 2026 , Economy, Trade, and Rural Affairs Committee
Cronfa Twf Lleol
Rebecca Evans, Cabinet Secretary for Economy, Energy and Planning.
29 Ionawr 2026 , Economy, Trade, and Rural Affairs Committee
Dyfodol dur yng Nghymru
As I say, I've taken it up with the Secretary of State. I don't think you can overestimate how important that very local knowledge is and hearing from people directly embedded first-hand within the community. We have had people attend the transition board…
29 Ionawr 2026 , Economy, Trade, and Rural Affairs Committee
Dyfodol dur yng Nghymru
We do know that the three steel unions are represented on that board, but, as you say, I received the same representations that the committee has received. I think the committee, and we did also, wrote to the Secretary of State on that, as the chair of the…
29 Ionawr 2026 , Economy, Trade, and Rural Affairs Committee
Dyfodol dur yng Nghymru
Again, I think there is some inevitability there, because we know that some workers will be employed at Hinkley Point, for example, so really significant journeys for them to make, but really highly skilled and sought-after roles there as well. We'll try and…
29 Ionawr 2026 , Economy, Trade, and Rural Affairs Committee
Dyfodol dur yng Nghymru
So, at the moment we don't have the data. I understand that there's further data available in February, in terms of some of those outcomes, but I'll ask Aine to say a little bit more about what data might be coming forward in terms of the workforce. I think…
29 Ionawr 2026 , Economy, Trade, and Rural Affairs Committee
Dyfodol dur yng Nghymru
As far as I'm concerned, things are on track, and we will have that MOU signed shortly, but I don't want to make myself a hostage to fortune for any particular timescales today. So, I would hope so.
29 Ionawr 2026 , Economy, Trade, and Rural Affairs Committee
Dyfodol dur yng Nghymru
I would certainly hope so.
29 Ionawr 2026 , Economy, Trade, and Rural Affairs Committee
Dyfodol dur yng Nghymru
Both MOUs are, I would say, imminent, and that will allow then the release of the £25 million seed funding for each of the free ports. But just to reassure you that that's imminent.
29 Ionawr 2026 , Economy, Trade, and Rural Affairs Committee
Dyfodol dur yng Nghymru
So, investment in the port is going to be absolutely critical, and this takes us back to that point, actually, that not only do developers need that certainty of the pipeline in order to invest, the ports need it as well. We've been ensuring that there are…
29 Ionawr 2026 , Economy, Trade, and Rural Affairs Committee
Dyfodol dur yng Nghymru
Again, assembly and the ongoing operations and maintenance, alongside some parts of the supply chain—we think those are areas where there is real potential here in Wales. Part of the work that we've been doing, of course, has been around the ports prospectus…
29 Ionawr 2026 , Economy, Trade, and Rural Affairs Committee
Dyfodol dur yng Nghymru
I think the impetus in those meetings is to make sure that UK Government understands the Welsh perspective and that there are some things that matter particularly to us here in Wales. Tariffs on UK steel into the US, we understand, will remain at 25 per cent…
29 Ionawr 2026 , Economy, Trade, and Rural Affairs Committee
Dyfodol dur yng Nghymru
I think both the UK and the EU will have similar concerns around global overcapacity in relation to steel. So, I think that could be an area, actually, where there is common understanding and a keenness to work together. I hope very much that that's the case…
