Finance Secretary Mark Drakeford has welcomed the new UK Government’s first Budget and the additional £1.7 billion it will bring to Wales over two years.
The Welsh Government’s settlement for 2025-26 is more than £1billion higher than it would have been under the previous UK Government. Taking 2024-25 and 2025-26 together, the settlement is around £1.7 billion higher compared to what it would have been.
The UK Budget included the following for Wales:
- £1.7 billion of extra funding for public services and capital investment in Wales.
- £25 million to support the Welsh Government’s ongoing investment to make coal tips safe.
- Moving to the next stage on the Celtic Freeport with designation of the tax sites.
- Support for green hydrogen projects in Milford Haven and Bridgend.
- Ended mineworkers pension fund injustice.
- Increase in National Living Wage for tens of thousands of workers in Wales.
For further information regarding the UK Budget pleases select the following link: Autumn Budget 2024 - GOV.UK