Wrexham Assembly Member Lesley Griffiths has backed the Welsh Government’s belief that the Chancellor’s Budget was a missed opportunity to boost economic growth.
The independent Office of Budget Responsibility claims the measures announced by the Chancellor will have a ‘negligible effect’ on annual GDP growth.
However, despite the latest announcements and the fact the UK Government has slashed the Welsh Government’s overall budget by 10% since 2010, the Welsh Government remains committed to delivering for the people of Wales.
Creating jobs and boosting the national economy remains a key priority for the Welsh Government. Employment opportunities have been created through supporting apprenticeship schemes and introducing flagship initiatives such as Jobs Growth Wales.
Recently released official statistics show unemployment is lower in Wales than in England, Scotland and Northern Ireland, providing clear evidence to suggest the Welsh Government’s policies are working.
One positive announcement from the UK Government is the publication of the Wales Bill. Responding to the recommendations made by the Silk Commission in November 2013, this Bill devolves a significant package of tax and borrowing powers to Wales, granting the National Assembly of Wales and the Welsh Government more levers and incentives to boost economic growth.
It is viewed as an important step forward as increased borrowing powers will enable the Welsh Government to undertake major infrastructure improvements.
Wrexham AM Griffiths said:
“The Chancellor’s Budget was the ideal opportunity to stimulate growth in our economy but instead we’re in line for further cuts and more austerity measures.”
“Despite the Welsh Government’s overall budget being slashed by 10% since 2010, equating to around £1.7 billion, significant progress has been made in Wales.”
“Creating jobs and boosting the economy are the Welsh Government’s key priorities and latest unemployment figures demonstrate how Wales is moving in the right direction.”
“There is undoubtedly still work to be done but the publication of the Wales Bill is another important step forward, taking us closer to gaining the vital borrowing powers needed to invest in Wales’ infrastructure.”
