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Public Expenditure: Wales

Question for Treasury

UIN 28712, tabled on 12 March 2020

To ask the Chancellor of the Exchequer, what assessment he has made of the effect on the Welsh economy of (a) raising and (b) removing the Welsh Government’s annual capital borrowing cap.

Answered on

17 March 2020

Under the Wales Act 2014, the Welsh Government was given powers to borrow up to £125m per year from 2018-19 within an overall cap of £500m.

Following the Welsh Government’s Fiscal Framework of December 2016, the Wales Act 2017 increased the overall capital borrowing cap to £1bn and, from April 2019, the annual capital borrowing limit to £150m.

The Welsh Government have yet to use these powers.

The UK government is committed to supporting and delivering growth across the UK, including in Wales. There are 144,000 more people in employment in Wales than in 2010 and over 31,000 more businesses.

Answered by

Treasury
Named day
Named day questions only occur in the House of Commons. The MP tabling the question specifies the date on which they should receive an answer. MPs may not table more than five named day questions on a single day.