Regional AM welcomes UK Conservative Government’s budget

South Wales Central AM, Andrew RT Davies, has welcomed the UK Conservative Government’s budget, which will see hardworking people across the region benefit from investment in transport, business and technology.

 

The announcements for Wales include:

 

  • Increasing the Welsh Labour Government’s budget by £550 million through to 2020-21. This includes over £25 million resulting from a 5 per cent uplift in Barnett consequential as agreed in the Welsh Government’s fiscal framework

 

  • We will support the delivery of the M4 relief road through a review of the Welsh Government’s borrowing powers, and launch a Wales-based British Business Bank team.

 

  • Freezing fuel duty for the ninth year in a row, saving the average driver £140 compared to what they would have paid under Labour. This will help people to keep more of their own money.

 

  • Increasing the National Living Wage to £8.21, boosting the pay packets of the lowest paid. There are 81,000 people in Wales having a pay rise in 2018 thanks to the National Living Wage, helping to boost the pay of the lowest paid.

 

Commenting, Andrew RT Davies AM, said:

 

“Since we came into Government in 2010, we have been repairing the damage from the last time Labour were in power.

 

“Now, thanks to the hard work of the British people and our balanced approach to the economy, that work is paying off, and as such 32 million people across the UK will receive a welcome tax-cut and more money in their pockets.

 

“We have seen a significant upgrade to our public finances, underscoring the strength of the economic recovery – and I’m delighted to see Wales is set to benefit from increased investment in transport, business and technology.

“The £550m uplift to the Welsh Labour Government is a hugely positive announcement, but history has shown that Labour politicians in Cardiff Bay have tended to waste such significant sums of money.

 

“People across the Vale of Glamorgan want to see our local authority funded fairly, and see important South Wales transport links such as the M4 receive much-needed investment.

 

“All eyes now turn to the Welsh Labour Government to see if they can deliver improvements to our economy and public services after two decades of near stagnation in Wales under their leadership.”

 

ENDS

 

Notes to Editors

 

Autumn Budget Brief: Wales

 

Today’s announcements for Wales include:

 

  • Increasing the Welsh Government’s budget by £550 million through to 2020-21. This includes over £25 million resulting from a 5 per cent uplift in Barnett consequentials as agreed in the Welsh Government’s fiscal framework.

 

  • Committing £120 million to allow a North Wales Growth Deal to be agreed, and continuing to work towards a Mid Wales Growth Deal.

 

  • Appointing a Wales-based team for the British Business Bank’s UK Network. This will identify and reduce geographical imbalances in access to finance for small businesses across the UK.

 

  • Freezing fuel duty for the ninth year in a row, saving the average driver £140 compared to what they would have paid under Labour. This will help people to keep more of their own money.

 

  • Increasing the National Living Wage to £8.21, boosting the pay packets of the lowest paid. There are 81,000 people in Wales having a pay rise in 2018 thanks to the National Living Wage, helping to boost the pay of the lowest paid.

 

Key regional statistics:

 

  • Employment: There are 151,000 more people in employment since 2010, meaning more families with the security of a regular wage since 2010.

 

  • Unemployment: The unemployment level has fallen by 56 per cent since 2010.

 

  • Tax cuts: Cut tax for over 1.3 million people in Wales since 2010, helping people to keep more of their own money (From next year the Welsh Government will take on responsibility for Welsh Rates of Income Tax, worth more than £2 billion).

 

  • National Living Wage: There are 81,000 people in Wales having a pay rise in 2018 thanks to the National Living Wage, helping to boost the pay of the lowest paid.