North Wales Assembly Member Mark Isherwood has welcomed today’s budget and the many benefits it will bring to Wales.
The Budget included numerous announcements to ensure that economic growth is shared across every part of the country, including investments that stand to benefit Wales specifically.
Mr Isherwood said:
“The Chancellor has announced significant, positive developments for Wales in his budget speech this afternoon.
“Decisions to invest in social care, skills, schools and health in England mean an extra £200 million of funding for the Welsh Government. This announcement builds on the new fiscal framework agreed in December which provides the Welsh Government with the finance needed to push on with creating jobs and investment.
“The Welsh Government’s resource budget will be boosted by £150 million through to 2019-20 and its capital budget by £50 million through to 2020-2021, building on the £400 million increase to the Welsh Government’s capital budget announced at Autumn Statement.
“It is encouraging that the Budget confirmed that a Growth Deal for North Wales is being progressed. It is vital that the Welsh Government now works with the UK Governments and responds constructively to the proposals made to them by the North Wales Economic Ambition Board. It would be a betrayal of our region if Welsh Government failure to provide a timely and constructive response prevented the UK Government from delivering the support offered, leaving North Wales massively short changed.
“It is also good news that the personal allowance will increase to £12,500 by 2020-21, which will reduce the income tax bill for 1.4 million individuals in Wales in 2017-18, and that researchers in Wales could benefit from a new £270 million Industrial Strategy Challenge Fund which brings together business and academia to focus on productivity-boosting solutions for industries of the future”.
ENDS