Recommendation 4

The development of the Shared Prosperity Fund represents a unique opportunity to re-evaluate Wales’ economic priorities in light of the economic fallout from the pandemic, to develop a funding system that better reflects Welsh needs, and which includes a broader set of tools to measure the impact of the Fund such as the impact on quality of life and well-being, as well as the effect on GVA. Addressing the root causes of Wales’ economic challenges, including productivity and skills, must be a core objective of the Shared Prosperity Fund. (Paragraph 45) 28 Wales and the Shared Prosperity Fund: Priorities for the replacement of EU structural funding