Conservatives in the Welsh Parliament Group have welcomed the Budget delivered today (March 11) by the Chancellor of the Exchequer, Rishi Sunak MP, describing it as “… bold…” and “… what the UK needs”.
During it, he launched a £30-billion spending plan to combat the effects of Coronavirus on the economy.
Mr Sunak said that the current Coronavirus outbreak would cause significant disruption – albeit temporary – to the United Kingdom’s economy, but that the measures to be taken would negate the worst effects.
Measures outlined that will benefit business, industry, and people in Wales include:
- · Increasing the Welsh Government’s Budget by £360 million through to 2020-21
- · Providing £55 million for a Mid-Wales Growth Deal
- · Strengthening the Western Gateway
- · Retaining tax relief on red diesel for the agricultural sector
- · Building the cross-border Pant-Llanymynech bypass
- · Increasing the National Living Wage by 6.2 per cent to £8.72 from April
- · Axing the ‘Tampon Tax’
- · Retaining the freeze on fuel duty
- · Retaining the freeze on spirits, beers, wine, and cider
- · Raising the National Insurance threshold from £8,632 to £9,500
Paul Davies AM/AC – the Leader of The Welsh Conservative Assembly Group – said:
“This bold Budget – set against the backdrop of the current Coronavirus outbreak – is what the country needs. It is pragmatic, and sensible for the people and businesses of Wales, and the United Kingdom as a whole.
“I am especially pleased with the freezing of red-diesel tax relief and the go-ahead to build the cross-border Pant-Llanymynech bypass, as well – of course – raising the NI threshold, which will benefit many, many people in Wales
“But let me be clear: because of the Welsh Labour administration in Wales, our friends on the other side of the Severn Crossings are going to benefit in ways we will not.
“For example, smaller businesses in England will gain – in a bid to offset some of the likely fallout from Coronavirus – from the UK Government’s commitment to abolish business rates for SMEs this year.
“While this Budget has a clear and achievable intent to get it done, here in devolved Wales, we have to rely on a failing Welsh Labour administration that has failed for two decades to get anything done.
”It will take a Welsh Conservative Government in Wales, working with a Conservative UK Government, to level up all of the UK and to succeed in getting it done.”