EXTRA COVID FUNDS FOR WELSH GOVERNMENT
WELSH Government is getting an additional £650 million to support businesses and public services affected by coronavirus.
The UK Government has provided the money through the Barnett formula due to spending commitments made in England.
It brings the total extra funding allocated to Wales since the start of the pandemic to £5.85 billion.
Welsh Government welcomed the extra money but said this was at the “eleventh hour” and just days before they were announcing final spending plans.
Businesses will hope this will lead to extra support in the coming weeks while Wales is in lockdown and while restrictions are in place even after lockdown is lifted.
Chief Secretary to the Treasury Steve Barclay said: “We’re committed to giving the Welsh Government the resources and flexibility it needs to tackle coronavirus and today we’re delivering an extra £650m boost. We have worked closely with the Welsh Government in advance of this announcement to ensure they have the certainty they need ahead of finalising their budget on 16 February.”
Welsh Secretary Simon Hart said: “We in UK Government have been relentless in our determination to get the necessary support to all parts of the UK, and today’s announcement will top-up that support for Wales to £5.85 billion. It is important that this funding now gets to the businesses and individuals across Wales as we look to rebuild the UK economy.”
A Welsh Government spokesperson said: “While we welcome any additional funding to support our response to the pandemic, it yet again comes at the eleventh hour and just days before we are due to publish our final spending plans for the year. It should also be noted that this is our Barnett share of funding allocated to tackle the pandemic in England. The limited arrangements to carry forward additional funding falls short of the full range of additional budgetary flexibilities we have been seeking, including full access to our own reserve next year.”
Aberconwy MS Janet Finch-Saunders said: “As my first digital forum with the local hospitality and tourism industry made clear, cash is needed by Aberconwy-based businesses now. We cannot sit by and allow this funding to remain in Welsh Government coffers, waiting for a rainy day spending spree. Jobs remain at risk and livelihoods at stake.”