The Labour government in Wales set out its draft budget on Tuesday 10 December and the Institute plans to follow its development closely.
The document sets out that the administration’s Climate Change and Rural Affairs (CCRA) portfolio will see an additional £36 million in resource funding – an increase of 6.61% – and an additional £72 million in capital funding, representing an increase of 31% and £36.35 million more for revenue spend, an increase of 6.6%. The CCRA portfolio “supports the retention and creation of green jobs through flood risk management, coal tip safety, and improving water quality, nature restoration, forestry and timber industry and farming”.
The government has pledged to maintain the Basic Payment Scheme (BPS) ceiling at £238 million for 2025.
A final vote on the budget is expected in March 2025.
