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Posted: Wed 18th Sep 2024
A member of the Welsh Parliament has said North Wales could lose millions of pounds in planned investment, according to growing speculation that key funding secured under the previous Conservative UK Government may be scrapped.
North Wales MS Mark Isherwood has called on the Welsh Government to take urgent action to protect the region’s economic future.
Raising his concerns during a recent Business Statement in the Senedd, Mr Isherwood urged Welsh Ministers to ensure the promised investment for Flintshire and Wrexham remains intact.
The funding includes the £20 million Town Fund for Wrexham and the £160 million North Wales Investment Zone, both of which are now at risk following indications from the Labour UK Government that the plans could be reconsidered.
Speaking in the Senedd Chamber, Mr Isherwood highlighted the potential devastation for the region if these funds are withdrawn: “If the North Wales Investment Zone is pulled, it would be a disaster for Wrexham and Flintshire.”
“The plan was supposed to bring in around £1 billion of investment to these two counties. We need to know what action the Welsh Government is taking to fight for these schemes.”
The Town Fund and the Investment Zone were part of a long-term plan to revitalise towns often overlooked, including four in Wales.
Mr Isherwood added that doubts over the electrification of the North Wales rail line and the construction of a nuclear power station at Wylfa in Anglesey are compounding concerns about the region’s economic future.
In response, Trefnydd Jane Hutt MS blamed the financial challenges on the previous Conservative UK Government, citing the “black hole” in the budget.
However, Mr Isherwood dismissed the explanation, arguing that the Welsh Government should focus on safeguarding the investments rather than resorting to “the same old ‘blame everything on the Conservative UK Government’ rhetoric.”
“North Wales deserves better,” he said, pointing to the cross-party support for the investment schemes, which he believes should not be subject to further delays.
“The region doesn’t wish, and cannot afford, to lose out on potentially hundreds of millions and billions of pounds of investment it was already planning to invest.”
Mr Isherwood’s call for a statement on the matter underscores the urgency to secure the future of the region’s economy.
With funding for infrastructure, industry, and local communities at stake, residents in North Wales are watching closely to see whether their leaders will step in to protect the investments that could shape the region for years to come.
At risk are key development projects, including improvements to transport infrastructure and local economies that were anticipated to create significant job opportunities and growth in North Wales.
For Wrexham, the loss of the £20 million Town Fund alone would have serious repercussions, especially given the long-term planning that has gone into these projects.
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