1. ITV Report

Budget 2017: how will Wales be affected by this Autumn budget?

The Chancellor's Autumn budget will supposedly set out a 'a vision for post-Brexit Britain.' Credit: Yui Mok/PA Wire/PA Images

Chancellor Philip Hammond has laid out his second budget, but not everything he said will apply in Wales.

The Chancellor told the Cabinet this morning that his Budget will make "significant investments" in infrastructure. That suggests spending on capital projects in England will go up, with the Welsh Government also getting extra money as a result.

In his Spring Budget, the Chancellor projected that the Welsh Government's capital budget, for building and improving roads, schools, hospitals and other projects, would go up by about £100 million a year.

  • 2016/17: £1.5 billion
  • 2017/18: £1.6 billion
  • 2018/19: £1.7 billion
  • 2019/20: £1.8 billion
  • 2020/21: £1.9 billion

Even if those figures are increased, they'll still be dwarfed by the resource budget that pays the public sector wage bill and all the other year-on-year costs met by the Welsh Government. In the Spring Budget, Philip Hammond announced these numbers:

  • 2016/17: £13.1 billion
  • 2017/18: £13.4 billion
  • 2018/19: £13.4 billion
  • 2019/20: £13.5 billion

There's also a much smaller but increasingly significant income from specific Welsh taxes.

Members of the GMB union dressed as 'Maybots' to protest against the budget outside Parliament. Credit: Dominic Lipinski/PA Wire/PA Images

The Chancellor says his investment announcements will mean an extra £1.2 billion for the Welsh Government. It's not immediately clear over how many years.

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There will be growth deals for north Wales and mid Wales (to complement the Cardiff and Swansea city deals) says Philip Hammond. He also confirms tha planned abolition of Severn Bridge tolls.

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The process of claiming and receiving Universal Credit, due to be rolled out in several parts of Wales next year, is to be sped up.

The NHS in England will get an extra £10 billion in capital investment between now and 2022 plus an extra £2.8 billion to spend between now and 2020. Overall that should add around £0.6 billion to the Welsh Government's funding over the next five years.

The Chancellor has announced a new body, Homes England, to build 300,000 extra homes through a mixture of additional funding and changes to planning controls. It's sure to increase pressure on the Welsh Government to take similar action.

The Chancellor announced stamp duty will be abolished for first time buyers of homes costing up to £300,000. Credit: Yui Mok/PA Wire/PA Images

All first time buyers of homes costing up to £300,000 won't have to pay stamp duty from today. It's a concession that will run out in Wales next April when stamp duty is replaced by the new Welsh Land Transaction Tax, unless the Welsh Government announces a similar concession. The rates already announced would apply to all purchases over £150,000.

Plaid Cymru's Treasury spokesperson Jonathan Edwards has highlighted the UK Government's refusal to transfer powers over Air Passenger Duty, Corporation Tax and VAT to Wales.