Anand Menon, director of The UK in a Changing Europe, explained that Wales is the recipient of large amounts of EU funding, but that the Government could step in to plug that gap post-Brexit. He added the Boris Johnson’s ‘Towns Fund’ to help “left behind towns” could really help deprived areas in Wales. He added that Wales is also quite dependent on trade with the EU, so what the future trading relationship looks like will be vital.

Mr Menon told Express.co.uk: “Wales is quite exposed in terms of trade with the EU.

“Wales is also of course the recipient of large amounts of EU funding, so in that sense the risks are high for Wales. 

“On the other hand, a lot will depend on what the government does – if the government makes sure that state funds are there to make up for the lost EU funding that would have a big impact. 

“And also things like the investment in towns – I mean, the government has been splashing the cash so far.

“So yes, there is potential impact, but it’s not that there’s nothing the government can do to deal with the impact – the question is whether a new government will do that stuff.”

Earlier this year Mr Johnson promised a £300million cash injection for towns in Scotland, Wales and Northern Ireland.

The funds for the devolved nations will be given through an expansion of growth deal funding, which started in 2014 to provide funds to local enterprise partnerships.

The Prime Minister said he was going to start “answering the pleas of some of our left behind towns”.

He claimed that the growth deals will “open up opportunities across our union so people in every corner of the UK can realise their potential”.

These investments could help Wales’ economy thrive after Brexit as the impact from a sudden withdrawal of funds and added tariffs could be nullified.

Mr Johnson also called for greater devolution throughout the UK.

He said: “Taking back control doesn’t just apply to Westminster regaining sovereignty from the EU.

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“It means our towns and cities and counties towns becoming more self-governing.” 

Jeremy Corbyn’s Labour looks like it could be losing its hold in certain parts of Wales for the first time – for example, the YouGov MRP poll had Wrexham, which has voted Labour since 1935, going to the Tories for the first time.

Wales voted 52.5 percent to leave the EU three years ago and many see Labour’s Brexit stance as a betrayal of the result of the referendum.

This is despite the fact that Wales receives more from the EU than the rest of the UK.

It has received just over £4billion of “structural funding” since 2000 and is due to receive over £4.3billion cash over the 2014-2020 EU budget period, more than three times the average per capita figure for the UK as a whole.

Most of the latest round of funding went to West Wales and the Valleys – £1.6billion – while £325million went to East Wales.

This is because West Wales and the Valleys is a ‘less developed region’ where GDP is less than 75 percent of the EU average.

However,  Mr Menon pointed out that Wales is the recipient of government funds because it is struggling economically.

He explained that the Welsh people may not be swayed by handouts, because they resent the fact that they need them in the first place.

The professor told Express.co.uk: “This argument about EU funding – yes it’s true Wales gets a lot of money from the EU and they’ve got to think about what they’re going to do about that money after.

“But on the other hand, I think part of the resentment in places like Wales is that they needed handouts at all.

“That is to say, why would you be happy because you’re getting handouts?

“People sometimes say: ‘Well, how can these people vote leave when they get so much money from the EU?’

“Well they get so much money from the EU because their economy is crap, so it’s not as if they’re going to be grateful about that.”

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