Funding announced for Welsh red meat sector

By Aidan Fortune contact

- Last updated on GMT

The Welsh red meat industry has benefited from a £2.15m grant
The Welsh red meat industry has benefited from a £2.15m grant
The Welsh red meat sector is to benefit from £2.15m in funding to help it prepare for the UK leaving the EU.

Allocated through the Welsh Government’s £50m EU Transition Fund, the £2.15m is designed to support famers in identifying improvements to their businesses to help them become more competitive and in a better position to trade profitably following Brexit.

Funding will also be given to an import substitution project to help identify and secure supply chains within the UK and encourage companies based in the EU to set up operations in Wales.

The Welsh fishing and aquaculture industries will also receive financial support to help it find new markets and prepare for future trading outside the EU.

On announcing the funding, First Minister Carwyn Jones said: “Brexit presents a series of challenges and opportunities for our agriculture and fisheries industries. The funding I am announcing today from our EU Transition Fund will provide vitally needed support. As a Government we will do all we can to help these important industries prepare for a post-Brexit world.”

Farmers’ Union of Wales president Glyn Roberts welcomed the announcement.

“We welcome the fact that one of the first EU transitional fund projects to be announced relates to the livestock sector, which is so important to our economy and communities,” he said. “There is so much uncertainty around what will happen over the coming months and years in terms of Brexit that planning is nigh on impossible.

“However, those who gain a detailed understanding of their current costs and outputs will inevitably be better prepared for the volatility and changes, whatever they may be, allowing them to react more quickly and appropriately to protect and improve their businesses.”

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