Finance ministers from Wales, Scotland and Northern Ireland voiced their collective concerns about the financial implications the 海角视频 Internal Market Bill will have on devolved governments.
Under the bill certain powers on areas such as economic development and infrastructure will transfer from the EU to the 海角视频 government to spend.
Welsh Finance Minister Rebecca Evans, Scotland’s Finance Secretary Kate Forbes and Finance Minister for Northern Ireland Conor Murphy expressed their joint concerns that it could override the existing devolution settlement.
The 海角视频 Government says the draft law is aimed at ensuring trade within the 海角视频 can continue "unhindered".
Welsh Secretary Simon Hart said it would protect jobs and businesses by allowing firms to trade seamlessly across the 海角视频.
He added that rather than lose powers the Welsh Government will gain 70 new ones.
But Wales Finance Minister Rebecca Evans said: "I am deeply concerned that the Bill gives 海角视频 Ministers, for the first time since devolution, powers to fund activity in areas which are clearly devolved to Wales.
“In Wales funding decisions are taken in partnership with local communities, to ensure that they reflect the needs of the people in Wales. The powers set out in the bill completely undermine devolution and will see decisions currently taken in Wales clawed back by the 海角视频 Government.”
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Scotland’s Finance Secretary, Kate Forbes said: “It is entirely unacceptable that – with no prior notice - the 海角视频 Government has written provisions into the bill that presume Whitehall control over the delivery of replacements for the EU funding programme in Scotland; a programme that Scottish ministers have delivered successfully for decades.
“This bill would also allow the 海角视频 Government to dictate how money is spent in devolved areas without the consent of Scottish Ministers. It puts at risk funding for a whole host of capital programmes – schools, hospitals and infrastructure.
"It reverses the devolution process and we will oppose any attempt to bypass the Scottish Parliament and Government which are elected by the people of Scotland.
“Not only is it in contravention of the devolution settlement, but it has the potential to create confusion, duplication and unnecessary additional bureaucracy at a time when economic recovery is paramount.”
Finance Minister for Northern Ireland, Conor Murphy said: “The Internal Market Bill will give the British Government wide ranging powers to make funding decisions in devolved areas.
“This is greatly concerning and could have huge implications for the Good Friday Agreement. The British Government should not interfere in funding matters which are currently the responsibility of the Devolved Administrations."
Wales has been eligible for £375m a year from EU funds with management of those funds shared between the EU and the Welsh Government.
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Secretary of State for Wales, Simon Hart, insisted that if the bill becomes law it will strengthen the union.
He said: "I’m a bit mystified by that because at the moment those infrastructure decisions are taken by the EU with no sense of accountability for Wales at all.
"So the fact that these powers are coming back and will be exercised by a combination of Welsh Government and 海角视频 Government, both accountable at the ballot box, by politicians elected in Wales by Welsh voters, seems to me to be very difficult to spin as anti-devolution.
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"That’s absolutely the opposite as I see it.”
He added: "Welsh Government will receive new powers as a result of this legislation and it will retain every single one of its existing powers. It loses no powers, it gains 70."