Finance

Welsh Government Second Supplementary Budget 2015-16

11 February 2016

Article by Gareth Thomas and  David Millett, National Assembly for Wales Research Service

The infographic shows changes to the overall allocation of expenditure between Welsh Government departments in the Second Supplementary Budget 2015-16

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

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