Senedd Finance Committee to consider impact of Welsh Government’s Draft Budget

Emily Price

The Senedd Finance Committee will today begin considering the impact of the Welsh Government’s Draft Budget for 2024-25.

This week the Welsh Government will lay its Draft Budget before the Senedd and the Finance Committee will begin its detailed scrutiny by taking evidence from the Minister for Finance and Local Government, Rebecca Evans MS.

Evidence

The Committee will also be hosting evidence sessions with various organisations such as the Office of Budget Responsibility and the Institute of Fiscal Studies in the new year to gain the best understanding of the Welsh Government’s Draft Budget.

Plaid Cymru called for the Senedd ti be recalled during the Christmas period to properly scrutinise the Draft Budget but their calls were turned down.

Ahead of the evidence sessions, the Chair of the Finance Committee, Peredur Owen Griffiths MS, said: “The Committee will use the forthcoming evidence sessions to look under the bonnet of the Draft Budget to see whether the Welsh Government’s spending plans reflect the Minister’s rhetoric as well as the priorities of the Senedd.

“Wales is facing a difficult and uncertain economic situation, and as a Committee, we want to look at the Draft Budget in detail to see if the proposals are sustainable, affordable and whether they can be improved.

“We also want to make sure that the Welsh Government is delivering on its aims to support households, public services and businesses to deal with the cost of living crisis and the impact of high inflation.”

Services

The Committee will publish its report on Monday 5 February alongside other Senedd committees who will also publish reports on the impact of the Draft Budget on their respective areas.

Plaid Cymru leader, Rhun ap Iorwerth said: “Frontline services have reached breaking point. Living standards have plummeted. And Wales is over a billion pounds worse off in real spending power.

“This is a direct result of the Tories trashing the economy and leaving hard-working people to pay the bill.

“The economic challenges facing our communities is made so much harder by the fact that the current funding deal Wales gets from London is unfair and makes it harder for us to protect and invest in our public services.

“Plaid Cymru calls on any government in power in Westminster – whether Labour or Tory, Sunak or Starmer – to commit to giving Wales a fairer funding settlement based on need and compensate for lost funding – including the £2bn Wales is still owed from HS2.

“But  Plaid Cymru would also look to make the necessary changes to the way Labour in Wales have managed Welsh taxpayers’ money over the years. Welsh Government’s failure to get to grips with running the NHS or Transport for Wales means the little spending power we have is spent on plugging holes rather than fixing problems.

“Everything possible must be done in this budget published today – to both protect and invest in Wales’ public services and to safeguard them in the long-run.”