WALES receives £245m more from the European Union than it pays in, a new report has claimed.

Although the UK as a whole paid £9.8bn more towards the EU than it received back in funding in 2014, Wales benefitted to the tune of £79 per person in the same year, the report by Cardiff University’s Wales Governance Centre has claimed.

Although Wales’ total contribution to the EU in 2014 was £414m, it received £658 in funds.

But the findings have been disputed by pro-Brexit campaigners, who have said cash paid to the EU would be better spent locally.

One of the authors of the report Ed Poole said the findings showed how much variation there could be in impact of the UK voting to leave the EU on June 23.

“Wales’ position contrasts very significantly to that of Scotland or England in being a net beneficiary of funds, primarily due to Wales’ receipt of significant funding from the EU’s regional and agricultural programmes,” he said.

“It has been variously argued that monies saved from EU budget contributions could be spent on replacing funding from EU programmes that benefit Wales.

“However, there is no guarantee that any fiscal space created in withdrawing from the EU would not be used instead for other UK government priorities such as tax cuts or debt reduction.”

His colleague Guto Ifan added: “The outcome of the vote may have a marked effect on the future economy and public finances of Wales.”

But a spokesman from anti-EU campaign group Vote Leave Cymru has refuted the claims, saying: “There is no such thing as European money.”

“It’s money that hardworking families have paid in taxes and money which could be better spent locally,” he said.

“In any case, we do not recognise these projections, and if the UK votes to leave the EU on June 23, Wales will be financially better off.”

He added there was no guarantee current levels of funding would continue if the UK voted to remain in the union.

"If we leave the EU we can spend our money on our priorities, like the NHS, schools and housing,” he said.

“And we could once again be masters of our own destiny, free to sign trade agreements with new trading partners the world over – including with the EU itself.”

But chairman of campaign group Wales Stronger in Europe Talfan Davies said the EU “makes a real difference” to people in the country.

"The EU is great bargain for Wales,” he said.

“But there is no guarantee that we would enjoy these benefits if we vote leave.

“Wales would almost certainly be out of pocket.”

To view the full report visit sites.cardiff.ac.uk/wgc.