Welsh Conservatives hail Budget that can resurrect Welsh economy

The UK Government’s Budget has laid the foundations for economic resurrection in Wales, according to the Welsh Conservatives.

Responding to the Chancellor of the Exchequer’s statement in the Commons, Shadow Finance Secretary - Nick Ramsay AM - said measures announced regarding Government investment in England would leave the Welsh Government ‘excuseless’ over its poor management of the economy in Wales.

Mr Ramsay also claimed that the Budget would provide definitive and everyday change for ordinary people across all parts of Wales.

Within the Budget statement, Chancellor Philip Hammond made Wales-wide announcements, including:

  • Over half a billion of extra Welsh Government funding between now and 2021, meaning its budget will have grown to over £16.1 billion by 2020.
  • £120 million of funding for the North Wales Growth deal and progress on the Mid Wales Growth deal
  • Giving Welsh councils the freedom to build more council homes by removing the borrowing cap on housing.

As a consequence of the devolved funding formula and UK Government spending in England, the Welsh Government will receive £550 million to spend as it sees fit in Wales.

Responding to the announcements, Welsh Conservative - Nick Ramsay AM – said:

“The UK Government has laid the foundations for the resurrection of our economy in Wales, driving forward productivity and breathing new life into our public services.

“This is a budget that delivers more than half a billion pounds of additional funding for Wales alone, which will go some way in modernising our health service, building more houses, and improving our infrastructure, providing definitive and everyday change for ordinary people across Wales. The Welsh Government would be excuseless for not spending it wisely.

“Welsh people should not lose out because of the obstinacy of the Welsh Labour Government. This Budget ensures that this won’t be the case.”