Wales gets a vote of confidence for its handling of Euro cash

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(Western Mail Via Thomson Dialog NewsEdge) A vote of confidence in Wales' handling of Euro-cash has been welcomed by Labour MEPs Glenys Kinnock and Eluned Morgan. At a meeting in Warsaw yesterday, the European Commission signed a 'Contract of Confidence' with Wales - its first ever such contract with any EU country or region.



It means the Commission has such a high level of trust in Wales' management of EU regional funding that it is to leave the job of auditing the spending of the cash to the Welsh authorities, rather than overseeing it itself.

Mrs Kinnock said, 'This is a tremendous vote of confidence in Wales and its management of EU funds. The Commission would not have made this decision lightly. It's a strong endorsement of the way the Assembly Government has handled European regional aid since 2000.'

Since 2000, around pounds 1.5bn of European regional funding has been spent in Wales, mainly through the Objective One programme. From 2007-13, Wales will receive another pounds 1.3bn in regional aid from the EU through its new Convergence programme.

Ms Morgan said, 'Wales should be extremely proud that it is the first region in the EU to sign this contract. This move should buoy confidence that the next round of EU funding will continue to benefit the people of Wales - creating jobs, developing skills and regenerating our communities.'

The 'Contract of Confidence' is a voluntary agreement between the Commission and a member state, or region, to guarantee the quality of the audit work done on existing Structural Fund programmes until 2008. The qualifying conditions are that the Commission must be satisfied with the effective functioning of the management and control system, the audit strategy and the quality of the annual control report.

A representative of the Wales Audit Office signed the contract on behalf of Wales, and EU Regional Policy Commissioner Danuta Hubner signed on behalf of the Commission. Commissioner Hnbner said, 'Today is a momentous occasion as the first Contract of Confidence is signed with Wales, part of the United Kingdom. Congratulations to them for their efforts in achieving this goal.' Enterprise Minister Andrew Davies said, 'Being rated best in Europe is excellent news for Wales, and further demonstrates our efficient and effective use of structural funds. We will build on this success and continue to deliver for the people of Wales through the next round of funding.'

Copyright 2006 . Western Mail & Echo Ltd
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