What assessment has the Cabinet Secretary made of the implications for Wales of the UK Chancellor of The Exchequer's identification of a £20 billion shortfall in UK public finances?
The Chancellor’s Statement has illustrated the gravity of the challenges the Welsh Government faces as we begin preparations for our next budget. I issued a Written Statement in response to the Chancellor of the Exchequer’s Statement on the 29 July[1]. The Welsh Government will continue to prioritise the public services that matter most to people in Wales.
Officials are working closely with HM Treasury to work through the details which lie behind the Chancellor’s statement in order to inform our own planning assumptions. Consequential funding will be confirmed as part of the Supplementary Estimates process 2024-25.
[1] Written Statement: Welsh Government response to the Chancellor of the Exchequer’s Statement on the UK Government’s spending inheritance (29 July 2024) | GOV.WALES