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Tip the flour, sugar, mixed spice, baking powder and a pinch of salt into a bowl. Then, with your fingers, rub in the butter and lard until crumbly. Mix in the currants. Work the egg into the mixture until you have soft dough, adding a splash of milk if it seems a little dry – it should be the same consistency as shortcrust pastry.
Roll out the dough on a lightly floured work surface to the thickness of your little finger. Cut out rounds using a 6cm cutter, re-rolling any trimmings. Grease a flat griddle pan or heavy frying pan with lard, and place over a medium heat. Cook the Welsh cakes in batches, for about 3 mins each side, until golden brown, crisp and cooked through. Delicious served warm with butter and jam, or simply sprinkled with caster sugar. Cakes will stay fresh in a tin for 1 week.