"As a result of the global economic situation, Wales is facing challenges that have not been felt for several generations.
"One of the biggest challenges we face, is ensuring that Wales’ young people are provided with opportunities to equip themselves with the right skills to ensure they can maximise their employment prospects in the future.
"In recognition of this challenge, the Welsh Labour Government and Plaid Cymru have today reached agreement on making sure a Budget for the coming financial year can be set – an agreement that is founded on making sure that such opportunities for our young people can be further enhanced.
"We have agreed that an additional £20 million will be reflected in the Draft Budget to be debated on Tuesday, 13th November, which would be put into supporting apprenticeships in Wales, targeted especially at those in the 16-24 age group. Opportunities to supplement Welsh Government resources with the maximum amount of EU funding will be sought. We will also ensure a further £20 million will be included in the indicative figures for 2014-15 for apprenticeship schemes.
"The exact schemes that the money will support will be determined by the Welsh Labour Government, in consultation with Plaid Cymru.
"In addition, we have today also agreed that in support of research in the fields of science, technology, engineering and mathematics, £10 million of capital will be allocated over the next two years in support of the creation of a science park led by Bangor University, in collaboration with Aberystwyth University.
It is intended that the park will also attract EU and private sector investment.
"Today’s agreement means that a Budget for the coming financial year can now be set on behalf of the people of Wales."
Green Growth Wales »The proposed Green Growth Wales fund aims to increase and accelerate projects to deliver green investment in Wales.Learn more »
Jane Hutt welcomes £2bn EU funding for Wales
The announcement of £2bn of EU funding for Wales over the next seven years is good news for Wales and will have a real impact on the Welsh economy, says Finance Minister.
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In this section
- Business and economy
- Children and young people
- Culture and sport
- Education and skills
- Environment and countryside
- Equality and diversity
- Health and social care
- Review of the existing policy on disposal of higher activity radioactive waste
- Human Transplantation (Wales) Act 2013: new regulations
- National Training Framework on gender-based violence, domestic abuse and sexual violence
- Implementation of the amended batteries directive 2013/56/EU
- Implementing the Emissions Performance Standard: Monitoring and Enforcement Arrangements in England and Wales
- Registration fees for the education workforce in Wales
Section highlightHousing (Wales) Act 2014The Act introduces significant improvements across the housing sector to ensure that people have access to a decent, affordable home and better housing-related services.
Legislative programme 2014 - 2015 »
Bills that the Welsh Government will bring forward in 2014/2015.Learn more »
Section highlightWales for Africa grant
The Wales for Africa grant supports projects that build mutually beneficial links between Wales and Sub-Saharan Africa.
Draft Budget 2015-16 »
The amount of funding allocated to Welsh Government Departments for 2015-16 is £15·3bn.Learn more »
- Statistics & Research
Upcoming calendar »
See the schedule for all statistics and research releases.View upcoming calendar »