News

• MSs to debate cross-party motion calling for faster rail investment in Wales and greater financial flexibility for Welsh Ministers.

• Motion calls for the removal of restrictions on the Wales Reserve, improvements to how the Barnett formula operates, and delivery of the UK Government's £14bn rail commitment for Wales.

• Finance Minister Elin Jones says working together to make the case for fairer funding and faster delivery will help ensure Wales’ voice is heard.

• Welsh Government urges Chancellor to speed up delivery of £14 billion rail pledge, as current funding covers just 1% of Network Rail's spend across England and Wales.

• Cabinet Minister for Finance Elin Jones also presses UK Government to act on the cost of living, public spending and investment in Wales ahead of the Autumn Budget.

• Finance Minister: "Wales has waited long enough. This budget is the UK Government's chance to show it's serious about delivering for our communities."

• Welsh Government to host finance ministers from across the UK in Cardiff

• Cabinet Minister for Finance Elin Jones to press UK Government on fiscal reform, including a formal review of the 2016 Wales Fiscal Framework.

• Finance Minister: "The way our funding is calculated hasn't kept up with the real needs of people here. It's outdated, and it's not transparent enough. That must change."

• Wealth of venues across Wales to see business rates cut by 30% from 1 April 2027.
• Small and medium-sized businesses with a rateable value below £51,000 to benefit with change fully funded.
• First Minister: This gives businesses “the confidence to invest, grow and keep serving the communities that rely on them.”

Electric vehicle charging bays and forecourts across Wales will benefit from full non-domestic rates relief until 2036.

• Review of the 182-day letting threshold to give businesses, local authorities and other stakeholders a say on the future direction of the policy.

• Views also sought on five proposed new exemptions for properties that could not reasonably serve as permanent homes.

• Finance Minister: “I am committed to getting the balance right – keeping homes in our communities while giving tourism the support it needs to thrive.”

The Cabinet Minister for Finance Elin Jones said:

• New funding for social housing, school buildings and community facilities confirmed today
• Budget brings together full package of investment for the year ahead
• Builds on NHS, childcare and free school meals announcements made last week

The Welsh Government's First Supplementary Budget 2026-27 will be published later today, setting out targeted allocations of extra revenue and capital to fund the Government's key priorities.