National Assembly for Wales

To propose that the Senedd:

1. Notes that the UK Government autumn budget will be published on 26 November 2025.

2. Regrets the failure of the UK Labour Government and the “partnership of power” between it and the Welsh Government to:

a) provide Wales with any consequential funding from the HS2 project;

b) devolve the Crown Estate in Wales, despite all Local Authorities in Wales supporting its devolution;

c) replace the outdated Barnett formula with a needs-based funding framework; and

d) deliver tangible improvements to the people of Wales to deal with cost of living pressures.             

3. Calls on the Welsh Government to make urgent representations to the UK Labour Government, and publish the communication, requesting that the budget includes:

a) the reversal of the increase in employers’ national insurance contributions

b) the implementation of fairer taxation measures, including:

(i) a 2% wealth tax on assets over £10 million; and

(ii) equalising capital gains tax with income tax rates;

c) the reclassification of HS2 as an England-only project, with a commitment to provide Wales with £4 billion in consequential funding;

d) a clear timetable for the devolution of the Crown Estate to Wales;

e) a commitment to replace the Barnett formula with a needs-based funding model;

f) a commitment to remove the two-child benefit cap;

g) targeted energy support grants for households in fuel poverty, similar to the 2022–23 Energy Bills Support Scheme; and

h) the introduction of an essentials guarantee to ensure that those on the lowest income can afford basic needs.