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Record £18 billion a year planned for Wales in UK Budget

By Bobby Kelly, Independent Journalist. Last edited: 05:35am. 28/10/2021.

The UK Government has announced it will provide a record £18 billion per year to the Welsh devolved Government.

Wales will receive an average of £18 billion per year, representing a 2.6% rise in the Welsh Government’s budget each year and around £120 per person for every £100 per person of equivalent UK Government spending in England.

In addition to the record funding for the Welsh Government, Wales will benefit from the UK Government’s ‘Levelling Up Fund’ and general commitments.

Targeted projects in Wales include:

  • £121 million of the Levelling Up Fund in 10 projects, including the regeneration of Aberystwyth seafront, a dualling of the A4119 in South Wales and redevelopment of the Theatr Brycheiniog Arts Centre in Brecon.

  • Over £460,000 of the Community Ownership  Fund for three projects protecting community assets in Llandwrog, Pen-y-Waun, and Tredegar .

  • £0.9 billion for farmers and land managers and £6.2 million for fisheries.

  • A Veterans Commissioner for Wales, who will work to improve the lives of the Welsh veterans’ community.

  • Up to £50,000 planned to develop a proposal to reinstate passenger rail services from Gaerwen to Amlwch on Anglesey.

  • £105m for the Cardiff City Region Deal.

    Wales is also set to benefit from:

  • A 50% cut in domestic Air Passenger Duty for flights between England, Scotland, Wales and Northern Ireland.

  • The UK Government have said that total funding will atleast match the size of EU Funds in Wales each year through the over £2.6bn UK ‘Shared Prosperity Fund’.

  • £120 million for a new Future Nuclear Enabling Fund for nuclear projects, with Wylfa in Anglesey, North Wales, as a potential site.

  • £140 million for hydrogen production, including the Holyhead Hydrogen Hub, and industrial firms in the UK who adopt carbon capture, utilisation and storage.

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