Commenting on the Chancellor’s Spending Review, Leader of the Welsh Conservatives Nick Bourne AM, said: “This announcement has provided Wales with a far better settlement than the Assembly Government’s own forecasts.
“While any reduction in WAG’s budget would be challenging, it is clear that the Assembly Government had been preparing for a bigger reduction than the one announced today.
“The Business Minister had been planning for reductions of £500 million year on year until 2014/15.
“Instead, the Assembly Government will have to find savings of £500 million over the next four years in total.”
Shadow Minister for Finance Nick Ramsay AM said: “I am incredibly heartened to hear confirmation that the UK Government will work closely with WAG to consider the findings of the Holtham Report.
“There is a clear requirement for the Barnett formula to be replaced with a needs-based system and this has now moved a step closer with today’s announcement.”
