There’s been a lot of noise in the Welsh press over recent months over the £4 billion owed to Wales as a result of the HS2 railway project

In this column, I’ll explain why it matters, and why mid Wales is being sold short.

What is Wales owed?

The majority of the Welsh Government’s funding is determined by something called the Barnett Formula.

In simple terms, for whatever money is spent in England, Wales gets an amount proportional to our population, which is roughly 6% of England’s.

HS2, for example, a 140-mile railway line between London and Staffordshire, has cost the UK Treasury £70 billion, so you’d expect that a figure equal to 6% of this would go to Wales – this is........

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