Article by Gareth Thomas and David Millett, National Assembly for Wales Research Service
The Minister for Finance (Jane Hutt AM) laid the Second Supplementary Budget 2015-16 on 9 February 2016. This was accompanied by an explanatory note and tables showing departmental allocations. This supplementary budget amends the First Supplementary Budget 2015-16, approved by the National Assembly in July 2015. The main revenue allocations in this budget are additional funding for the NHS, including £45 million to improve NHS services, £45 million to support winter pressures, £13.8 million to fund new drugs for treatment and £1.75 million for the Wales Air Ambulance. Also, there is an additional £11.3 million to fund increased demand for the Welsh Government learning grant. The main capital allocations are £63 million of financial transactions funding to support businesses across Wales: including £15 million for the new Wales Business Fund; £10 million for the Interim Technology Venture Investment Fund; £7.7 million to support strategic business investment; and £5 million for the Business Growth SME Fund. There is also £23 million to be allocated to 21st Century Schools projects to support the rebuilding and refurbishment of schools and £20 million to build 230 affordable homes through the Social Housing Grant. These investments are funded by a mixture of allocations from reserves and funds carried over from last financial year and also takes account of changes in funding from the UK Government. The £46 million reductions from the UK Summer Budget 2015 are included within this budget along with £32 million additional funding from subsequent UK Government decisions. Changes in the overall allocation of expenditure between different Welsh Government departments in this Supplementary Budget 2015-16 are summarised in the accompanying chart. Note, this supplementary budget is concerned with the current financial year, and therefore does not include any of the spending commitments announced for 2016-17 during the draft budget debate held on 9 February
