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Over £6 million Brexit support for Airbus and automotive sector

First Minister Carwyn Jones yesterday announced further business support for Airbus (£3 million), Ford (£1.6 million) and other automotive component manufacturers from the £50 million EU Transition Fund to help prepare for Brexit.

his support will help significantly improve the chances of developing the Welsh-based sites as the preferred locations for any future and post-Brexit European investment projects.

The EU Transition Fund was announced in January 2018 and is already providing direct financial support to sectors across Wales to plan and prepare for the significant changes of Brexit. A number of projects have already benefited from £7.4 million of funding, including support for our agriculture and fisheries industry sectors, in particular £2.15 million for the development of the red meat sector in Wales.

In addition, £150,000 has been provided to help deliver a Brexit support package to all 22 local authorities in Wales and £200,000 to help the social care sector research into how Brexit could impact the Welsh workforce and help them plan for any eventualities. Wales’ universities also received £3.5 million to drive international partnerships and promote Wales as a study destination in a post-Brexit world.

First Minister Carwyn Jones yesterday said:

“Brexit presents a series of challenges and opportunities for businesses in Wales and it is my priority to ensure Wales is in the best possible position to prepare for a post-Brexit world.

“The funding I am announcing today from our EU Transition fund will provide the vitally needed support to help these important industries.”

Finance Secretary Mark Drakeford yesterday said:

“The EU Transition Fund gives us a good opportunity to provide businesses in Wales with the support they need to provide their workforce with transferrable skills in order to continue showcasing Wales on a global stage.”

 

Channel website: http://gov.wales

Original article link: https://gov.wales/newsroom/firstminister/2018/180924-brexit-support-for-airbus-and-automotive-sector/?lang=en

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