Written statement: Welsh Government response to the UK Autumn Budget 2024 (30 October 2024)

Today, Chancellor of the Exchequer Rachel Reeves unveiled the UK budget, the first in British history to be written by a female Prime Minister. This represents the first step towards addressing 14 years of damage caused to public services and communities by the previous UK government.

The measures announced by the Prime Minister, including new fiscal rules and tax policy, will restore growth in our economy, set public finances on a more stable footing and begin to reinvest in public services. We recognize that the position the new UK Government inherited cannot be reversed in just one Budget and that it will take time for public finances to recover. The Institute for Fiscal Studies points out that in the long term, additional investment, planning reforms and increased stability will all help boost growth.

The Welsh Government will receive an additional $774 million in resources this year, including the cost of the public sector pay deal already agreed, and $49 million in capital in 2024-25. In 2025-26, there will be a further increase in resources of $695 million and capital of $235 million. The overall settlement for 2025-26 is more than 1 billion higher than under the previous UK government. Taken together, the agreement for 2024-25 and 2025-26 will be about 1.7 billion more than originally planned.

The Prime Minister listened to what Wales needed. She acknowledged the potential safety threat posed by unused coal tips and, together with ongoing investment from the Welsh Government, will deliver 25 million in 2025-26. We will work with the UK Government ahead of the second stage of the Spending Review to ensure that Wales’ needs are fully taken into account in the future and that we help make these tips safe for current and future generations.

We also welcome the Prime Minister's announcement that the UK Government will transfer the investment reserves of the Mineworkers' Pension Scheme to the Scheme's Board of Trustees. This is a particularly important issue for many communities in Wales.

Today’s Budget is a welcome investment in Wales. From people, communities, local businesses and public services. We will continue discussions with the UK Government on fair funding for rail and additional budget flexibility as we move forward with the second stage of the UK Spending Review in the spring.

The UK government today confirmed its move to transition to the Shared Prosperity Fund. Together with our UK Government and Welsh partners, we will develop a long-term post-2026 model that returns autonomy over decision-making to the Welsh Government to invest in strategic drivers for growth.

The Prime Minister also announced changes to the high residential rates of Stamp Duty Land Tax (SDLT) in England and Northern Ireland. Welsh Ministers will consider their position on land transaction tax in the context of the upcoming draft budget.

The budget is scheduled to be released on December 10. This will focus our priorities, including ensuring public services continue to be delivered to Wales.

This statement is issued during breaks to keep members informed. If members wish to provide further explanation or answer any questions about this when the Senedd returns, we will be happy to do so.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos