Finance ministers of devolved nations hold Brexit talks

Written by Tom Freeman on 11 July 2016 in News

Derek Mackay joins counterparts from other devolved UK nations to discuss public finance and funding implications in the wake of Brexit

National Assembly of Wales - credit .Martin.​

Scotland's finance secretary Derek Mackay has met his counterparts from Wales and Northern Ireland to discuss the implications of the vote to leave the European Union for the devolved nations of the UK.

Scotland and Northern Ireland recorded decisive voted for remaining in the EU, while Wales narrowly opted to leave.

The ministers are in Cardiff today to discuss the implications of the vote for public finances.


Scottish business calls for calm and stability following the EU referendum result

Chancellor George Osborne abandons 2020 budget surplus plan

Ahead of the meeting Mackay said: “No-one can be clear on the likely impact of Brexit on UK Government finances, and we are already seeing the UK Government suggest changes to future spending plans. It is clear that there are significant issues and challenges ahead.”

The Welsh Government have called for a revision of the country’s funding arrangements to reflect the fact hundreds of millions of EU funding will be taken out of the valleys.

Speaking after the Brexit vote First minister Carwyn Jones said: “During the campaign promises were made that, in the event of Leave, Wales will not lose a penny in funding – the Welsh Government will insist on that commitment being honoured.”



Related Articles

Banks have failed to engage with communities over branch closures, MSPs warn
3 July 2018

The Economy, Jobs and Fair Work Committee found that branch closures were hitting the most vulnerable, with MSPs warning that alternative options to face-to-face banking have not been adequate

Interview: Keith Brown on being elected SNP depute leader
21 June 2018

Exclusive interview with the SNP’s new depute leader on the Growth Commission report, indyref2 and how he interprets his role


Brexit and Scotland's rural economy
21 June 2018

Concern over challenges faced by rural communities have been long-running, but with Brexit on the horizon, new ones have emerged

Related Sponsored Articles

Share this page