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West Wales and valleys GDP falls further behind Europe average Valleys and west Wales poorest in the UK and further behind European average
(40 minutes later)
The economic performance of west Wales and the valleys has slipped further behind the European average, according to new figures released today. New figures suggest the economic performance of West Wales and the south Wales valleys has fallen further behind the European average and the poorest regions in the UK.
The figure for 2009 shows a fall to 68.4% of the EU average for GDP, down from 71% in 2008. The figures have been condemned by opposition politicians, who say billions of pounds of European aid have failed to boost prosperity.
It represents a dramatic fall since 2005's figure of 79%, and remains the lowest of any region in the UK. More than a decade ago, the arrival of European funding was hailed as a once-in-a-generation opportunity to transform the fortunes of the poorest parts of Wales.
The region has received well over £1bn of economic regeneration funding since EU aid began in 1999. But economic performance per head has actually fallen since then. Latest results showing GDP at less than 70% of the European average in 2009. That figure stood at nearly 80% in 2005.
At that time, its GDP was 76% of the European average. Meanwhile, Wales's overall GDP remains lower than any other part of the UK at just under 80% of the EU average.
Wales's overall GDP remains lower than any other part of the UK at just under 80% of the EU average. The average for Northern Ireland is 83% and Scotland is 107.5% according to figures which were published on Monday.
The average for Northern Ireland is 83% and Scotland is 107.5% according to Monday's figures.
The overall figure for the UK is 110.7%.The overall figure for the UK is 110.7%.
The Welsh government has been asked to comment. A Welsh Government source said: "Since 2001, GDP per head in west Wales and the valleys has broadly kept pace with the UK as a whole.
'Sliding backwards' "However, GDP is particularly misleading as it does not take account of the large flows of commuters outside of the area - a point fully recognised by the report.
"In order to get a clear picture of economic performance, it is necessary to look at a wide range of indicators, including employment rates and measures of income - where west Wales and the valleys has performed well."
The Liberal Democrat business spokeswoman Eluned Parrott AM said: "This is more evidence, if any were needed, that Labour have monumentally failed the people of Wales.The Liberal Democrat business spokeswoman Eluned Parrott AM said: "This is more evidence, if any were needed, that Labour have monumentally failed the people of Wales.
"Instead of learning lessons from previous rounds of European funding we appear to be sliding backwards."Instead of learning lessons from previous rounds of European funding we appear to be sliding backwards.
"Given the severe difficulties that Greece and other European economies have experienced in recent years, we might have expected to gain some ground against our neighbours, but sadly, yet again, Wales is propping up the bottom of the tables rather than leading the way."Given the severe difficulties that Greece and other European economies have experienced in recent years, we might have expected to gain some ground against our neighbours, but sadly, yet again, Wales is propping up the bottom of the tables rather than leading the way.
"We must have a strong, pro-active vision for the future of west Wales and the Valleys if those areas are to regain their place as the engine-room of the Welsh economy. "We must have a strong, pro-active vision for the future of west Wales and the valleys if those areas are to regain their place as the engine-room of the Welsh economy.
"There are some caveats to the statistics but this remains a strong indication of Labour's failure.""There are some caveats to the statistics but this remains a strong indication of Labour's failure."