On Wednesday 27 November, the Welsh Affairs Committee will question economic experts on the likely impact of the 2024 Budget on Wales.
Meeting details
Every year, the UK Government allocates money to the Welsh Government through the lump-sum ‘block grant’. Any changes to comparable services in England are reflected proportionally through changes to this grant. These are known as ‘Barnett consequentials’.
In the 2024 Budget, the Welsh Government received an uplift of £1.5 billion in Barnett consequentials for day-to-day spending.
In the first evidence session of the new Parliament, MPs on the cross-party committee are likely to ask what options this uplift could offer the Welsh Government, and whether the current method of funding the Welsh Government is effective.
Other topics MPs may discuss could include changes to the National Minimum Wage, working-age benefits and employer National Insurance contributions, as well as Wales’ share of funding for HS2 and funding to remediate disused coal tips.