£millions from Europe for climate change and co-operation to restore sound money

Geraint Davies, Labour’s successor to Alan Williams MP was at the Wales Policy Forum in Cardiff this weekend (4.2.09) to represent Swansea West and advise of multi-million pound green investments from Europe and the benefits to Wales of further cooperation.

Said Geraint “The forthcoming European elections this year are an opportunity to highlight the millions of pounds of investments from Europe we receive in Wales and the benefits of a cooperative approach.

Geraint is in charge of investments in flood defences across Wales and said “The £3.8million Glynneath flood alleviation I opened last week will protect 800 people and 600 properties but simply wouldn’t have happened without the 40% contribution from Europe.
“This week we had the thumbs up for a further £15million from Europe to invest in a new generation of flood defences to adapt Wales to climate change.

“As we approach the Euro elections we all have the right to know where the hundreds of millions of pounds from Europe are being invested and how they improve our environment and economy in Wales.”

As we struggle through the global downturn it’s important that we now rein in the banks and adopt a more cooperative approaches to finance to avoid repeating the mistakes that led to the current situation.

“The Cooperative Bank and other financial mutual organisations have not suffered like the high street banks as they exist to provide a service to their customers and not a profit for their shareholders. They were therefore not exposed to the risks that went so badly wrong for the banks that taxpayers are now underwriting.”

“That’s why our Labour Wales MEPs should be promoting more cooperative approaches to finance across Europe in the future.”

Geraint Davies was joined by Eluned Morgan MEP and Labour Wales Euro Candidates.

“In Wales I have led the campaign to provide bank accounts run through our network of local post offices supported by the Cooperative Bank. This in turn would support the post office network itself and reinforce community ties. I am pleased that having contacted Gordon Brown the Government is now supporting such a scheme” said Geraint Davies who is the Swansea West Labour and Cooperative Party parliamentary candidate

“In Wales we already have 33 credit unions with 50,000 members, many of whom have been denied credit by the high street banks. Our Welsh Assembly has already pledged support for credit unions and we now need organised cooperation between them.

“It’s important for Wales that Labour representatives in Europe, in our UK Government and in our Welsh Assembly take a joined up approach to the challenges we face from restoring sound money to tackling climate change. Our Policy Conference certainly did help to ensure that we are all singing from the same Welsh Hymn Book.”