This budget and the contents with in it for Wales brings together an ambitious programme of renewal that will generate jobs and level up local communities.
Going forward Wales will see a record £18 billion a year. The largest annual funding settlement since devolution began – helping level up across the whole of the United Kingdom. This includes a £2.5 billion per year boost as part of a Budget and Spending Review that delivers a stronger economy for the whole of the UK.
Wales will also benefit from UK-wide support for people, businesses, green jobs, and investment to level up all opportunities before them.
Some additional points I would like to particularly welcome are:
- A Veterans Commissioner for Wales, who will work to improve the lives and opportunities of the Welsh veterans community, and I know that my colleagues on the Welsh Affairs Select Committee and I will be looking closely at this appointment.
- The cutting of business rates by 50% for 90% of retail, hospitality, and leisure.
- The significant tax cut for low-income families which, of course, is great for jobs.
- The creation of a new half price rate for Air Passenger Duty for domestic flights within the United Kingdom, increasing our internal connectivity and Union togetherness
I would like to congratulate the Chancellor and his team for all the work they have put in over the past 18 months in guiding the United Kingdom through one of the worst scenarios it has faced in living memory and preventing what could have been the biggest recession in 300 years.
Watch my video below if you wish to see my contribution to the Autumn Budget Debate 2021.