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Background

A Budget to protect public services and boost Wales’ economy

Written by on 2nd March 2021

Finance Minister Rebecca Evans has unveiled a Final Budget with plans to protect public services and the Welsh economy, providing timely support to protect lives and livelihoods in the months ahead.   

Building on the £320m reconstruction package announced last October, this Budget delivers a further injection of £224.5m capital funding to support our reconstruction efforts and stimulate demand and jobs.

This investment includes an additional £147m to ramp up housing programmes and an extra £30m to accelerate the ambitious 21st Century Schools and Colleges Programme, helping to support economic growth, sustainable jobs and training opportunities across the sector.

The new  package also boosts the significant investment dedicated to flood and coastal defence in this Senedd term. An extra £8m will be invested to help local authorities and Natural Resources Wales repair the damage caused by flood events in December and January and protect communities at risk of flooding.

In recognition of the benefits active travel delivers to employment, education, key services, and bringing our communities together, we’re allocating an additional £20m to further extend infrastructure and enable the delivery of new schemes. This takes our total planned 2021-22 investment for active travel to around £75m.

As set out by the First Minister yesterday the Final Budget also confirms more than £630m to support our NHS and local government over the next six months as they continue to respond to the pandemic.

The Final Budget also sets aside £200m in reserves for additional business support next year to respond to the evolving challenges of the pandemic.

Rebecca Evans MS Minister for Finance and Trefnydd

Finance Minister Rebecca Evans said:

“The Budget I have published today provides our economy with an investment  to help inject jobs and demand into a recovery that takes root today.

“It also provides the NHS and local government with the certainty they need to respond to the next phase of the pandemic.

“We know that our hardest hit businesses need certainty too. That’s why we repurposed budgets to provide more funding for business support in Wales than we received as a share of the package in England.

“We will provide further clarity when our funding position is absolutely guaranteed.

“When the Chancellor confirms the funding Wales will get as its share of the English position on rates relief for next year, I will announce the next steps for Wales.

“Today’s measures build on a budget designed to protect public services and our economy, build a greener future and create change for a more equal Wales.”

The Welsh Government’s final Budget 2021-22 will be published here along with associated documents.