Wednesday November 23rd 2016
North Wales Assembly Member Mark Isherwood has welcomed today’s Autumn Statement by the Chancellor of the Exchequer which includes measures which will benefit people across North Wales.
Mr Isherwood is particularly pleased that the UK Government continues to be open to discussing options for a Growth Deal with North Wales, and that it has decided to focus on infrastructure spending, which means that the Welsh Government budget will increase by more than £400 million through to 2020-21, giving it greater spending power to boost productivity and promote growth in Wales. This is in addition to the £500 million the Welsh Government will be able to borrow to invest from 2018.
Wales is plugged squarely into the UK Government’s Industrial Strategy which paves the way for significant research and development money for our universities – building on our already cutting edge reputation.
Working people across Wales will also benefit from an increase in the National Living Wage plus significant investment into universal credit – reducing the taper so people who progress in work keep more of what they earn.
The UK Government will also use LIBOR fines to provide £1 million funding to support the Air Ambulance Service in Wales, and over £1.5 million funding for Mind, to provide improved mental health support for emergency services staff in Wales and England.
Mr Isherwood said:
“Today’s Statement shows a great commitment by the UK Government to helping Wales and its people.
“The Welsh Government capital budget will increase by over a quarter in real terms over the next five years, from £1.28 billion in 2015-16 to £1.78 billion in 2020-21. This includes an extra £436 million over five years announced today, money that can be spent on roads, houses, schools and hospitals.
“The Chancellor looks forward to receiving proposals for a North Wales Growth Deal and also highlighted positive progress towards signing the Swansea Bay City Deal.
“This Autumn Statement shows that the Government is building an economy that works for everyone, in Wales and the whole of the UK.”