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Large swathes of Wales are poorer than parts of Bulgaria, Romania and Poland and four-and-a-half times less prosperous than central London, according to latest official figures.

The European Union (EU) statistics also reveal the UK has Europe’s highest inequality of wealth in Europe.

The figures, issued by the EU’s statistical information body Eurostat, show Gross Domestic Product (GDP) throughout the EU for 2010 and the value of goods and services produced within each country per head of population.

Taking 100 as the EU average across all 27 member states, Wales as a whole had a GDP per head of 81. But while East Wales managed to hit the 100 average, West Wales and the Valleys languished at 70, the lowest figure in the UK. The highest, for Inner London, was 328.

At 70, West Wales and the Valleys was poorer than parts of Bulgaria, Romania and Poland, and than the whole of the Czech Republic (80), Slovenia (84) and Slovakia (84) – all countries that were part of the East European Communist bloc that collapsed more than 20 years ago.

The GDP figures have prompted a row between Plaid Cymru and the Welsh Labour Government.

Plaid Treasury spokesman Jonathan Edwards said: “These shocking figures confirm that once again the British State is the most unequal in terms of wealth in the whole of Europe.

“My Carmarthen East and Dinefwr constituency in the West Wales and the Valleys region has a GDP figure which is 70% of the EU average while Inner London is a staggering 328%.

“West Wales and the Valleys is comparable to some regions in the former communist countries of Eastern Europe.

“It is important to remember that these figures are for 2010 – which was the end of the Labour Government.

“After 13 years in power they did nothing to tackle the massive regional inequality of wealth and clearly failed in their historic duty to redistribute wealth and tackle inequality.

“The ConDem Government is carrying on where Labour left off, and doing nothing to seriously redistribute wealth and economic opportunity away from London and the South East of England.

The Welsh economy and the other producing economies of the British State are being failed by the economic policies of the London parties that continue to fixate on high finance.”

Mr Edwards said that thanks to Ieuan Wyn Jones, Plaid’s economy minister during the Labour/ Plaid coalition that ran Wales from 2007 until 2011, Welsh economic performance showed a small increase in 2011 when figures were released by the Office for National Statistics at the end of last year. He added: “Unfortunately, it looks like his good work will be reversed or stagnated by the increased hardship suffered by many in Wales because of the destructive economic policies of the London parties.

“Due to the current Labour Government's indifference on the economy here in Wales, and the London parties' continued servitude to the cult of austerity, it is likely that we will soon see a sharp increase in the already highest levels of inequality of wealth in Europe.

“There is, however, hope for the Welsh economy and it includes the crucial need to devolve job-creating powers as recommended by the Government Commission on Devolution in Wales which had representation on it from all the main parties.

“Why are we still waiting for action? Plaid Cymru is the only party truly standing up for the Welsh economy with other necessary proposals such as a publicly-owned bank to lend to local industries and create jobs.

“I want to see the forthcoming Queen's Speech include a Wealth Equalisation Bill, tasked with converging wealth levels across the British State. For as long as Wales is part of the UK it must be made to work in our interests. These wealth figures are a damning indictment of the economic failures of unionism.

“Wales, its people and its economy, certainly cannot afford to wait.”

A Welsh Government source responded: “Whether in elections or opinion polls, the people of Wales overwhelmingly endorse Welsh Labour’s approach to the economy.

“The people know that, as a Government, we’re doing all we can to create more jobs and boost economic growth.

“Our Business Start-up programme has helped establish over 4,980 new enterprises and created more than 10,500 jobs, with 12,000 more jobs to be created by June 2015. Our Jobs Growth Wales programme helps business grow by supporting them to take on young people and recently we announced an extra £30m to help Welsh businesses grow.

“Contrast this to Plaid's lacklustre and disjointed economic policies and it’s easy to understand why voters don’t take Plaid Cymru seriously.”