Oral Answers to Questions

Wayne David Excerpts

Thursday 20th October 2016 Commons Chamber

[Mr Davis]

One reason—although only one—why we are seeking to maintain the most open and barrier-free access possible to the European market is to encourage foreign direct investment. We have had discussions with a number of countries, including the US; indeed I met a US congressional delegation that came here whose members were very enthusiastic about Brexit. There are many views about this.

[Wayne David (Caerphilly) (Lab)]

4. What discussions he has had with his Cabinet colleagues on EU regional funding as part of his preparations for negotiations on the UK leaving the EU.

[The Minister of State, Department for Exiting the European Union (Mr David Jones)]

The Chancellor has already announced that the Government will guarantee EU structural and investment funding signed before we leave the EU. In addition, when UK organisations bid directly and competitively for EU funding for projects, that funding will be guaranteed by the Treasury if the bids are won before our departure. Those guarantees will extend to 2020, effectively the end of this Parliament.

[Wayne David]

The Minister has quoted part of what the Chancellor said, but he also said that finance will be guaranteed to bidders

“whose projects meet UK priorities”.

Does that imply that the UK Government will try to change agreed priorities for EU expenditure?

[Mr Jones]

No. Over the coming months the Government will consult all interested parties—including the devolved Administrations, who clearly have an interest in this policy—to ensure that future funding commitments represent value for money and are in line with our strategic priorities.