Shared Prosperity Fund
Debate between Wayne David and Dan Jarvis(5 years, 7 months ago)
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Dan Jarvis
And Devon—I am grateful for that intervention.
Let me move back from Devon and Cornwall to South Yorkshire for just a moment. In South Yorkshire, we would have seen an increase from €117 per head to more than €500 per head. It is therefore my view that any future shared prosperity fund needs to replace the funds on the basis of what would have been received, had the referendum result been different.
Wayne David (Caerphilly) (Lab)
On the question of how funds are allocated, does my hon. Friend agree that if there is any combination of needs-based formulae and competition, allocation on the basis of need should overwhelmingly be the most important factor to be taken into consideration?
Dan Jarvis
I do agree. My hon. Friend makes a very important point, and I will say more about that later.
When it comes to the funding criteria for the shared prosperity fund, it is important to understand that resources previously received support some of the most vulnerable in our society, through projects delivered by charities from Mencap and the Salvation Army through to local and voluntary community organisations, such as South Yorkshire Housing and Sheffield Futures, in my patch—organisations rooted in our communities, born out of need and surviving in some cases by the skin of their teeth. The resources also support investment in high-profile, multimillion-pound research and innovation schemes. They unlock town and city regeneration. They provide business support and finance in urban and rural areas. They deliver sustainable development projects that support the low-carbon agenda. Taken together, these local growth and European funds have been the glue that holds our communities together.