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Outlining how £97million of revenue funding would be moved to spend on capital investment the Minister said that supporting capital projects is the priority for the Welsh Government and would ensure the construction industry in Wales would be helped through difficult times and assist economic recovery.
Jane Hutt said:
"The Welsh Government is determined to use all the levers we have to stimulate the economy in these difficult financial times. That is why we have taken a number of measures this year to mitigate partially the cut in our capital budget imposed by the UK Government, this includes switching funding from revenue to capital.
"Through our careful financial planning, we have continued to invest in capital projects which will not only result in new schools being built and more affordable housing being available but will also support the construction industry, local supply chains and create local apprentices and training opportunities."
Speaking about the Welsh Government's Budget for growth and jobs the Minister said:
"My main focus this year was to provide a Budget for growth and jobs, while always protecting those who are most vulnerable in society.
"Yesterday I visited a housing development scheme in Grangetown that had received £1m from the Welsh Government. It is exactly this type of scheme that delivers a safe place for people who need it to call home, as well as boosting the economy by stimulating the construction industry in Wales, and creating employment and apprenticeships for local people.
"Our Social Housing Grant is making a real difference to meeting Wales' housing demand. Helping housing associations to build more affordable homes is a priority under our housing agenda and our Programme for Government commits to us to increasing the number of homes across Wales."
Jane Hutt added:
"The Welsh Government is investing over £1.3bn in capital infrastructure this year and we are now working on our Wales Infrastructure Investment Plan. This will act as a shop window to the Welsh Government's major investments in infrastructure and will ensure that we are clear and transparent about how we turn our priorities into investment."
