In Plenary today (May 13), Nick Ramsay MS – the Shadow Minister for Finance – renewed the Welsh Conservatives’ call for a full emergency budget to be detailed to deal with the threat to the economy posed by the Coronavirus pandemic and lockdown.
He made his call after the Minister for Finance announced that a supplementary budget would be brought forward.
Mr Ramsay asked for more detail about it, noting that Welsh Conservatives had petitioned for a full budget, which he said would give “… greater opportunity for scrutiny of Welsh Government spending at this time”.
Speaking later, Mr Ramsay said:
“Like other Welsh Conservative colleagues today, I have been pleased – up to a point – that the Welsh Government has listened to our calls, in my case in relation to the nation’s finances.
“However, I share the sense of frustration that my colleagues feel that the announcements by the Finance minister, and indeed her colleagues today, don’t go far enough or lack detail.
“Inevitably, because of the pandemic, money is going to be tight over the next year. Revenue, for example, from Income Tax, Land Disposal Tax, and Stamp Duty will have fallen of significantly, which is why I made another call for a dedicated statement on revenue from taxation as devolved to Wales, and the amount of revenue we expect to lose.
“People here in Wales need the reassurance that the Welsh Government has a tight rein on the country’s finances. This should reassure the residents of Wales, the businesses here, and businesses perhaps looking to invest here as the restrictions are eased to a future exit from lockdown.”