Budget 2021: What Wales will get and how it affects you

Welsh businesses are set to receive more than £93m of investment when the Chancellor unveils his Budget for 2021.

On Wednesday, Rishi Sunak will use the Budget to set out the UK Government's tax and spending plans.

Funding for Wales will aim to accelerate a green recovery and create nearly 13,000 jobs.

It comes after hundreds of thousands of people across Wales were furloughed or made redundant as a result of the pandemic, with several large businesses also going bust.

It also follows the UK experiencing its worst economic crisis since the Great Frost of 1907, with a fall of 9.9% in 2020 - more than in any year since comparable records began.

Welsh agriculture is expected to be one of the main sectors to benefit from the Budget. Credit: PA Images
  • What's in it for Wales, and where will benefit?

Some of the funding announced will go towards boosting sectors including transport, agriculture and infrastructure - all of which promise to create new jobs.

In his November spending review, Mr Sunak was accused of "making the wrong choices and broken promises" by Wales' finance minister.

Ahead of his Budget, Mr Sunak said: "We have protected jobs and supported businesses throughout this pandemic and now we are looking ahead with more optimism to an investment-led recovery for the whole of the United Kingdom.

"These measures will help Wales pave the way to a greener future, create new high skilled jobs and build the infrastructure needed to drive growth in key sectors and build back better."


On Wednesday, Mr Sunak is expected to announce £4.8m to pilot a hydrogen hub in Holyhead.

The hydrogen production centre will be designed to produce and distribute green hydrogen, which would help to decarbonise high carbon-emitting transport.

The Treasury said it could create up to 30 new high-skilled green jobs, indirectly support 500 jobs, and bring further investment into the area.

The Budget promises to create nearly 13,000 jobs in Wales. Credit: PA Images

North and mid Wales

Mr Sunak is also expected to bring forward £58.7m of funding over the next five years for faster investment in the North and Mid Wales City and Growth Deals.

The UK Government is investing £665.6m in four City and Growth Deals in Wales, with a total of £120m in the north and £55m in mid Wales.

This promises to drive forward local economies, while delivering new jobs in sectors such as infrastructure, transport and agriculture.

The North Wales Growth Deal will get an extra £4.4m per year from 2021/22 for the remaining nine years of the Deal, creating up to 3,800 new jobs and supporting an uplift of £2.2bn for the economy.

The Mid Wales Growth Deal will get an extra £1.8m per year from 2021/22 for the remaining ten years of the Deal, leading to faster investment once projects are agreed, including those focused on skills and employment.


Swansea is also set to benefit, with the Swansea Bay City Deal receiving an extra £5.4m per year from 2021/22 for the remaining seven years of the Deal.

This will enable projects, including digital and urban regeneration infrastructure projects, to be delivered faster, create up to 9,000 new jobs, and support an uplift of £1.1bn for the economy.

Neath Port Talbot

In addition, Rishi Sunak is expected to provide up to £30m towards a new rail and infrastructure testing facility planned for Neath Port Talbot.

Also supported by the Welsh Government, the centre will see up to 120 skilled jobs and showcase Wales as a hub for research and development, and low-carbon rail technology.