Exciting plans in store for Porth Teigr
The Porth Teigr area of Cardiff Bay could soon be home to street food, a pop up market, live outdoor events, offices and hotel apartments.
- Best ambulance performance in a year – Vaughan Gething
- First Minister welcomes plans to expand Heathrow
Featured Article »£40m available for research and innovation proposals
- Exciting plans in store for Porth Teigr
Section highlightLand Transaction Tax
Land Transaction Tax will replace UK Stamp Duty Land Tax in Wales.
Draft Budget 2017-18 »
The amount of funding allocated to Welsh Government Main Expenditure Groups (MEGs) for 2017-18 is £15bn.Learn more »
- Statistics & Research
Upcoming calendar »
See the schedule for all statistics and research releases.View upcoming calendar »
Funding from the UK Government
The Barnett formula is a non-statutory mechanism used by UK central government to apportion public expenditure changes to Wales, Scotland and Northern Ireland. It is based on population, not need.
The formula determines the change to the inherited level of spending for each of the devolved administrations in Wales, Scotland and Northern Ireland.
If new money is announced by the UK Government then Wales will receive a consequential proportion of that new money under the Barnett formula. It is for the Welsh Government to decide on use of that money.
This means that budget announcements by the UK Chancellor of the Exchequer about additional resources for education may or may not apply to Wales depending on whether they involve new money for which Wales receives a consequential. If there is a consequential, it will still be for the Welsh Government to decide how it spends that money.