Live updates

Advertisement

Shadow Welsh Secretary calls for a 'uniting' budget

Ahead of the budget announcement later, the Shadow Welsh Secretary has called for a budget that "unites the country, tackles the cost-of-living and gets young people back into work."

Owen Smith also said that a Labour budget would re-instate the 50p top rate of tax and introduce a 10p starting rate for lowest earners.

In Wales, where the cost of living crisis is biting the hardest, people would benefit the most from Labour’s plans to freeze energy prices, strengthen the minimum wage and scrap the bedroom tax.

With nearly a million young people out of work across the UK, a Labour Budget would also include a jobs guarantee, based on the success of Jobs Growth Wales, which has created 11,000 opportunities for young people in Wales.

If George Osborne doesn’t announce these measures, the next Labour Government will waste no time introducing them. They’re a vital part of our plan to create an economy that puts hard-working people first and that offers good jobs with decent wages.

– Owen Smith MP, Shadow Welsh Secretary

FSB calls for transparency ahead of budget

The budget will be announced this lunchtime. Credit: Lewis Whyld/PA Wire

The Federation of Small Businesses has called for more competition and transparency in key business sectors ahead of today's budget announcement.

The Chair of the FSB's Welsh Policy Unit, Janet Jones, is also looking for further details regarding the devolution of business rates which she calls 'a significant issue for our members'

"FSB research continues to show increased confidence within Wales, notably in members' investment and employment intentions," she said.

"With the recovery underway it is important that businesses begin to feel the measures already announced are having a positive impact.

"This is why the Chancellor should look at 'focus and delivery' for initiatives already announced to create long term growth.

"For Wales specifically we will be hoping to see further detail around the devolution of business rates, which remain such a significant issue for our members here."

Budget should boost jobs in Wales, says Labour

Owen Smith MP, Shadow Welsh Secretary Credit: ITV News

Shadow Welsh Secretary Owen Smith says the Chancellor must do more to get young people back into work when he announces his budget on Wednesday. Mr Smith said,

"With nearly a million young people out of work across the UK, a Labour Budget would also include a jobs guarantee, based on the success of Jobs Growth Wales, which has created 11,000 opportunities for young people in Wales.

"If George Osborne doesn’t announce these measures, the next Labour Government will waste no time introducing them. They’re a vital part of our plan to create an economy that puts hard-working people first and that offers good jobs with decent wages"

  • Owen Smith MP, Shadow Welsh Secretary

Advertisement

  1. Adrian Masters

Plaid warns of 'spreadsheet recovery'

Plaid Cymru front bench team Credit: ITV News, Adrian Masters

Plaid Cymru leader Leanne Wood assembled her front bench team to call for a UK budget that would help families. Ahead of the Chancellor's budget on Wednesday, Ms Wood warned of the danger of a 'spreadsheet recovery,' one that looks good on paper but isn't felt by people 'on the ground.'

Economy spokesperson Rhun ap Iorwerth called for an 'Economic Fairness Act' to correct what he said was an imbalanced economy which is seeing growth in the south-east of England but not in other parts of the UK.

Load more updates