Plaid Cymru AM Chris Franks has expressed his outrage that the Westminster government has refused a Welsh government bid for access to investment through end of year flexibility.
End year flexibility is a financial system that allows the carry forward of any unspent resources from one year to the next.
The Chief Secretary to the Treasury, Danny Alexander has written to the Welsh government refusing to allow Welsh Ministers access to End of Year Flexibility stocks either in this year, or in future years.
Plaid’s Finance spokesperson Chris Franks AM said: “It is disgraceful that the Westminster government is taking our money. These funds of £385 million were voted by Parliament to Wales. This is another claw-back or cut in funding by Westminster.
“The Welsh government uses any under-spend to fund investment for schools, affordable housing and hospitals. These projects improve our infrastructure, providing and safeguarding jobs. Plaid is disappointed with Danny Alexander’s refusal for the Welsh government to access our money.
“The Conservative – Liberal Democrat government are already imposing huge cuts too quickly regardless of the impact it has on the Welsh economy. Plaid believes it is time Wales should benefit from our money and our resources. Wales is already underfunded to the tune of £300 million. We need a Yes vote on Thursday to ensure that Wales is not forgotten by the Westminster government.”
The South Wales Central AM also pointed out: “We also lose out because of the unfairness of the Housing Revenue Account Scheme from Wales to the Treasury. We need a fair funding formula for Wales. Plaid won’t let Westminster austerity beat our ambitions for Wales.”
