Local Growth Fund

Inquiry5

The Economy, Trade, and Rural Affairs Committee has been set up by the Senedd to look at policy and legislation, and to hold the Welsh Government to account in specific areas. These areas include business, economic development, skills, international trade, agriculture, fisheries and food.

The Committee undertook a short inquiry on the Local Growth Fund.

Terms of Reference

In particular, the Committee considered:

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>>>The Welsh Government’s proposed funding and delivery arrangements for the Local Growth Fund from April 2026.

>>>The extent to which the Welsh Government’s proposals for the Local Growth Fund are likely to achieve its objective of supporting productivity growth and tackling issues leading to economic inequalities.

>>>Whether any elements of the Welsh Government’s proposals for the Local Growth Fund should be changed, including which elements these might be, and why.

>>>The key lessons that can be learned from previous regional development funding arrangements such as EU Structural Funds and the Shared Prosperity Fund. The extent to which the Welsh Government’s proposals apply these lessons.

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Report
The Committee published its report Local Growth Fund on 23 February 2026 (PDF 3.02MB).

Welsh Government response – 31 March 2026 (PDF 214KB)

A debate was held in Plenary on 11 March 2026.

Additional evidence

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>>>Industrial Communities Alliance - 9 February 2026 (PDF 198KB)

>>>Cabinet Secretary for Economy, Energy and Planning, Welsh Government - 17 February 2026 (PDF 203KB)

>>>Industrial Communities Alliance (2) - 3 March 2026 (PDF 137KB)

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