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The Budget

Again, the hon. Gentleman falls back to that old socialist Labour habit of thinking about how much money can we throw in rather that what can we do to release the private sector to generate wealth. I have spent the past 10 minutes focusing on how much money Labour threw into west Wales and the valleys in European aid, but it is now the poorest part of the UK, and among the poorest areas in the whole of Europe. Furthermore, because of the failure of the Welsh Assembly Government and the previous UK Government, when it comes to the next round of European regional aid, the whole of Wales might be classed as a needy area that should receive the highest levels of support.