Spending Review and Autumn Statement 2015
Chancellor George Osborne has delivered his joint Autumn Statement and Spending Review to MPs in the House of Commons.
- Nick Powell
Finance Minister: Chancellor's 'smoke and mirrors' can't hide cut for Welsh Government
The Treasury has confirmed that the Welsh Government's budget will fall by 4.5% in real terms as a result of the Chancellor's spending review. Modest cash increases in the revenue budget, which finances day-to-day expenditure will be more than cancelled out by inflation.
- 2015/16: £12.9 billion
- 2016/17: £13.0 billion
- 2017/18: £13.1 billion
- 2018/19: £13.2 billion
- 2019/20: £13.3 billion
However, there's better news for the Welsh Government's capital budget, which pays for new roads, schools and hospitals. That's going up by 4.7% -a cash increase from £1.5 billion to £1.7 billion by 2020. So the Chancellor's promise of a budget totalling £15 billion will be kept and he's also committed to keeping overall spending in devolved areas 15% higher in Wales than in England until the next Westminster election.
-
Welsh income tax rates come a step closer
Politicians say how they'd alter Welsh income tax rates following a major change which could speed up the transfer of tax powers
-
Spending review: What it means for you
From pensioners to first-time buyers to public sector workers, a rundown of how today's Autumn Statement and Spending Review affect you.
-
Spending Review could have 'disastrous consequences'
With the Welsh Government expecting major reductions to its spending budget, those working in education are concerned.