The Welsh Assembly Government’s Finance Minister has made it clear that the Cabinet’s decision earlier this year is to protect the capital budget in Wales this year regardless of the cuts that come from Westminster.
This will ensure continued investment in education, health, housing and social care projects and crucially, assist the economic recovery by providing much needed support to the construction industry.
There is no doubt, Wales is facing possibly the most difficult budget settlement since devolution, but the approach being taken by the Welsh Assembly Government means that capital projects that were under threat of being cut or delayed following the UK Government’s June budget can continue.
Cementing this pledge, the Minister said:
"The Welsh Assembly Government has said that public services are one of our highest priorities and this will not change.
"Whatever cuts we are forced to make, we will not be taking money from our key policy areas, and we also refuse to do anything that could risk the recovery of our already fragile economy."
Examples of developments that have been possible thanks to capital funding include:
- The modernisation of mental health services in Bridgend
- A new breast care clinic in Llanelli
- A new A&E in Carmarthenshire
- The redevelopment of Prince Charles Hospital in Merthyr Tydfil
- A learning centre in Merthyr Tydfil
- Merthyr health park
- Regeneration of Caernarfon Town Centre
- The building of North Wales Cancer Treatment Centre
- Phase 2 of the Children’s Hospital in Cardiff
- The regeneration of Bridgend Town Centre
- Cynon Valley Community Hospital
- Improvements to train stations including Cardiff, Carmarthen, Llandudno and Bangor
- Road Improvements on routes including the A487 and A40
- A new museum in Rhayader