Economic Growth: Wales

(asked on 11th February 2019) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what preparation his Department has done to support the economic growth of Wales in the event of the UK leaving the EU without a deal.


Answered by
Elizabeth Truss Portrait
Elizabeth Truss
This question was answered on 19th February 2019

Leaving the EU with a deal remains the Government’s top priority. That has not changed. We are working closely with the devolved administrations to ensure that we build a stronger and fairer economy for the future, with 193,000 more people in employment in Wales since 2010. At the most recent Budget, the Welsh Government benefitted from a £550 million boost to its budget, a real terms increase up to 2020. The government is investing over £735m in city and growth deals. The government is also supporting the Welsh economy by cutting corporation tax to 17% in 2020, abolishing tolls on the Severn Crossings and investing in Wales’s infrastructure. This will support the Welsh economy to grow and create jobs, supporting hard-working people with greater prospects and living standards as we leave the EU.

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