Plaid Cymru: £5bn Needed to Abolish Poverty

Plaid MEPs will lead the call for a new transformation fund

Plaid Cymru has today set out its plan to abolish poverty and spread prosperity with a £5 billion transformation fund from Europe.

The party says that decades of under-investment by the Welsh and UK Governments have led to families having to choose between ‘heating and eating’.

It says the amount of funding Wales receives should be doubled over the next five years, and its MEPs would lead the call for a new fund.

The proposed £5 billion transformation fund would tackle poverty wages, support industries, and create jobs, Plaid has said.

Plaid Cymru leader Adam Price AM said: “While Labour and the Tories would have us believe that everything is fine and dandy, we can all see that the Westminster establishment is in crisis over Brexit. Meanwhile, there are families at breaking point because of poverty wages. In homes across Wales, there are parents having to choose between heating and eating.

“The poverty in our communities is a scandal, and the Westminster parties have stood by and let this happen. Whether in our cities, towns, and valleys, or in our rural and coastal communities, no one in Wales should have to live with the indignity of poverty. 

“That’s why today, we’re calling for Wales’ European funding to be doubled in order to jumpstart our economy and provide a much-needed boost to working people’s income. Wales needs a massive Transformation Fund so that every household in every community across our nation can benefit from our prosperity.

“For decades, Wales has been underfunded by the governments at either end of the M4. We cannot continue on the same path or our communities will simply wither on the vine. Our mission is to make Wales matter, and the massive transformation fund we’re proposing would start to do just that.”

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