Cross-party support for a long-lasting fair funding agreement welcomed – Jane Hutt

Cross-party support in the National Assembly for a formal inter-governmental agreement to secure a long-lasting fair funding outcome for Wales has been welcomed by Finance Minister Jane Hutt.

The cross-party support from all parties on the Welsh Government motion follows a debate in the National Assembly on the implications of the Spending Review on Wales.

The Finance Minister said the UK Government’s commitment to a fair funding floor for Wales in this Parliament – set at 115% of the England average – did not provide the necessary long term funding solution and called for an inter-governmental agreement.  On Monday, the Minister will meet the Chief Secretary to the Treasury to press for a lasting outcome that will be fair and resolve fair funding once and for all.

Jane Hutt said:

“We have been clear that the Chancellor’s announcement of a funding floor does not resolve fair funding for Wales in the long term.  It provides no certainty and what we need is a formal inter-government agreement to resolve fair funding once and for all.

“I have always said that the case to secure a lasting fair funding settlement is one that stands in its own right and is supported by all parties in the Assembly.  The achievement of today’s cross party support cannot be underestimated and will only reinforce our case which I will take to the Chief Secretary to the Treasury when we meet on Monday.

The Minister added:

“This Spending Review does not relieve the ongoing and significant pressures on public services in Wales.  It was full of missed opportunities and we need clarity on a number of issues – electrification of the great western line to Swansea and the North Wales mainline, Swansea Bay Tidal Lagoon and the commitment to help fund a City Deal for the Cardiff city region.”