Welsh Labour promises £3.4 billion budget increase in Wales as it launches manifesto

Welsh Labour has promised a £3.4 billion increase in Wales' budget if Jeremy Corbyn is elected as prime minister later this month.

The party in Wales is launching its manifesto in Wrexham later today. It saysUK Labour will end austerity, and with the additional funding from the UK Treasury, it will extend free social care, scrap tuition fees and provide additional funds to small and medium sized businesses through the Development Bank of Wales.

Welsh Labour also says it will guarantee that 90% of the surplus in the Mineworkers’ Pension Scheme would stay with members.

In his speech tomorrow, Welsh Labour Leader and First Minister Mark Drakeford is expected to say the choices made at this election will "shape our lives for the next generation".

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Last week, the UK Labour party committed to building the Swansea tidal lagoon and delivering rail electrification in Wales, if it wins the general election.

Jeremy Corbyn unveiled his party's vision, promising a "manifesto for hope."

Within the manifesto, the party says it would "deliver rail electrification expansion across the whole country, including in Wales."

It also pledged to build the Swansea tidal lagoon project after plans were cancelled for the project in 2018.

The company behind the £1.3bn project said the lagoon would power approximately 155,000 homes in Wales each year - with more than 2,000 jobs in construction and manufacturing planned for the area.