The UK government promised to invest in improving the Welsh infrastructure for two main reasons. The first is to produce greater benefits for companies trading internally within the UK, and secondly, in a wider vision of the market, to put Welsh business closer to the centre of export policies.
The key development here has been the UK government’s announcement in the 2018 Autumn Budget of £550 million in extra funds for the Welsh government, plus £120 million for the North Wales Growth Deal. Specifically, the announcement included:
- More than £550 million of extra money for the Welsh government, meaning its budget will have grown to over £16.1 billion by 2020.
- £120 million for a North Wales Growth Deal, generating investment, jobs and prosperity in the region.
- Continuing to support a Mid Wales Growth Deal, working with the Welsh government, businesses and local councillors to agree a deal.
- Supporting the delivery of the M4 relief road by reviewing the Welsh government’s borrowing powers.
While the extra spending announcements, as well as the progress of the North Wales Growth Deal, show commitment to investment in infrastructure in Wales, they are still incomplete. We are therefore marking this policy as ‘in progress’. Follow for updates.
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