£640m reaches businesses in £2.4bn Welsh Government Covid-19 response: Money

27 May 2020

£640m reaches businesses in £2.4bn Welsh Government Covid-19 response

Ymateb gwerth £2.4 biliwn gan Lywodraeth Cymru i COVID-19, gan gynnwys £640 miliwn i fusnesau

The Finance Minister Rebecca Evans will set out the extraordinary steps the Welsh Government has taken to dedicate more than £2.4bn to the coronavirus crisis when the supplementary budget is published later today.

This significant financial effort has not only provided more than £750m to fund our NHS and public service response, supporting the supply of PPE, investment in testing and tracing and NHS recruitment, but also helped to deliver the most generous business support package in the UK.

The latest figures out today show that more than 52,000 grants, totalling £640m have been paid to businesses in Wales, who are also benefitting from rates relief through the £1.4bn package announced in March. 

The Finance Minister has also called on the UK Government to ease the ‘rigid financial rules’ that limit the Welsh Government’s ability to direct more resources to its COVID response.

Finance Minister Rebecca Evans said:

“This unprecedented financial response has maximised the immediate support we could offer to Welsh public services, businesses and the most vulnerable in this crisis.

“It is only right that we have been guided by a sense of what is fair when public finances are facing such enormous pressure. That is why we have gone beyond the funding we have received from the UK government to deliver targeted support, from funding free school meals throughout the holidays to delivering the most generous business support package in the UK.  

“There are still many challenges ahead and our ability to respond is limited by the rigid financial rules imposed on us by the UK Government. Easing the rules on the way we manage our budget and the amount we can borrow will free up much-needed resources for the front lines in this crisis.

“I will continue to urge the UK Treasury to fix this problem and as we look ahead the Welsh Government will set out the case against any return to reckless austerity.” 

Notes to editors

The Welsh Government's Supplementary Budget will be published at 3pm.

Covid-19 non-domestic rates (NDR) grants distributed by local authorities in Wales as of 26.05.2020.

 

Number of payments made

Value of payments made (£)

Isle of Anglesey

1,517

£19,325,000

Gwynedd

2,881

£35,365,000

Conwy

2,676

£33,180,000

Denbighshire

1,992

£23,625,000

Flintshire

2,314

£27,865,000

Wrexham

1,657

£19,730,000

Powys

3,897

£46,245,000

Ceredigion

1,867

£23,065,000

Pembrokeshire

3,260

£39,320,000

Carmarthenshire

3,403

£39,349,000

Swansea

3,445

£43,390,000

Neath Port Talbot

2,102

£24,245,000

Bridgend

2,171

£27,095,000

The Vale of Glamorgan

1,784

£22,580,000

Cardiff

4,402

£60,025,000

Rhondda Cynon Taf

3,392

£39,635,000

Merthyr Tydfil

945

£11,675,000

Caerphilly

2,532

£29,610,000

Blaenau Gwent

1,135

£12,685,000

Torfaen

1,285

£15,070,000

Monmouthshire

1,535

£20,180,000

Newport

2,141

£26,595,000

Wales

52,333

£639,854,000

Source: Welsh Local Government Association.