Chancellor Philip Hammond has unveiled his first Budget - but how will it affect people and businesses here in Wales?Read the full story ›
There's been instant pressure from Welsh Conservative MPs for the Welsh Government to do more about business rate relief.
£200m extra for Welsh Assembly. No excuse for not doing something about business rate rises in Wales.
But the Welsh Government is expected to argue that they have already committed the money they'll receive as a result of the business rate measures announced for England today.
Re: business rates, Welsh Govt source tells me extra money from English scheme =c.£21m; Welsh Govt has already announced its own £20m scheme
Finance Secretary Mark Drakeford is pointing out that it's up to the Welsh Government to decide how any extra money is spent.
Still no clarity on the £3.5bn UK spending cuts still hanging over us – could wipe out £175m from the Welsh budget #SpringBudget
The Treasury has now released the detailed report, know as the Red Book, which supports todays Budget speech. It reveals that the Welsh Government is expected to get £15 billion from the Treasury 2017/18. That's £200 million more than was planned for the same financial year in George Osborne's last Budget.
The Chancellor says his Budget includes an extra £200 million for the Welsh Government to spend.
Chancellor announces extra £200m for Welsh Govt as result of spending in England in his budget.
Details of the £200m: £150m over 3 years + £50m capital over 4 years as result of business rates, skills & social care spending in England
Welsh Govt source: extra £200m has to be seen in wider context of cuts; Welsh Govt’s budget is around £1n lower than in 2009/10.
Businesses hit by business rate increases in England are to get extra help, including a £300 million discretionary fund to help the worst hit and a £1,000 discount for most pubs.
It will be up to the Welsh Government to decide whether to offer more help to businesses in Wales.
Chancellor announces moves to help English small firms on business rate rises; Welsh Govt announced own scheme recently but will it do more?
The Chancellor has begun his Budget speech with his take on the overall state of the economy.
Philip Hammond highlighted a fall in unemployment, which he said has been fastest in Wales.
Chancellor Philip Hammond has revealed to ministers the main themes of Wednesday's Spring Budget.
The Budget is intended to help young people get the skills they need to perform high-skilled and high-paid jobs in future, and give more children the opportunity to go to a good or outstanding school.
Another key theme is to bring down the deficit so the country can "get back to living within its means".
Mr Hammond said the UK economy had continued to show evidence of "fundamental robustness and resilience", but warned further austerity measures are on the cards with deficit and debt "too high".
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