Statement from the Cabinet Minister for Finance - Ahead of the UK Government’s Budget

Ahead of the UK Government’s Budget, the Cabinet Minister for Finance Elin Jones said:

“For years, our nation has been short-changed. This UK Budget is the moment of truth, and we need the Chancellor to act, not just acknowledge the problem.

“Just 1% of Network Rail's spending across England and Wales comes to Wales. That is not a fair deal, it's not even close. The UK Government has promised £14 billion to put right decades of underfunding. We are urging for £1 billion of that to be brought forward now, so people in Wales see real improvements, not more promises delayed to further down the tracks.

"Real-terms cuts to our day-to-day and capital budgets are holding us back. We need those cuts reversed now, and we need the UK Government to back the energy and infrastructure projects that will secure our future.

"People are struggling with the cost of living. Targeted support for the most vulnerable households, especially with energy costs, isn't optional, it's essential. Freezing the Local Housing Allowance while rents rise is also pushing people towards homelessness. That has to end.

"Wales pulls its weight in the UK economy. We contribute. Now we need the UK Government to match that ambition with action and deliver a budget that finally treats us fairly."