Chancellor Rishi Sunak after the Budget 2020

Chancellor makes Budget announcements

Published : 16/03/20 | Categories: Influencing |

How budget announcements will affect the voluntary sector.

The Chancellor, Rishi Sunak’s has given his Budget address. In areas affecting Wales, he pledged:

  • An additional £360m per year to Welsh Government
  • £55m for the Mid Wales Growth Deal
  • Statutory sick pay from day one to all employees who self-isolate following coronavirus. Businesses of 250 staff or less will get this refunded. The self-employed will find it easier to access benefits.
  • Those receiving Universal Credit will not be required to attend Job Centres during the coronavirus outbreak.
  • To roll out high speed broadband to hard to reach areas across the UK
  • To create a Treasury office in Wales
  • The National Insurance threshold will increase from £8632 to £9500.

Finance Minister Rebecca Evans criticised the Budget statement for not addressing her key asks: funding for flooding repairs, rail infrastructure, and research and development. Arguing that austerity has not ended, she said the budget is down nearly 4% in real terms on 2010-11 and had it grown in line with GDP, it would be £3.5bn higher.

The Chancellor also pledged to suspend business rates for one year for businesses with a rateable value of under £51,000. Business rates are devolved to Wales. The Welsh Liberal Democrats have called for Welsh Government to replicate this decision in Wales.

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