Rebecca Evans AM, Minister for Finance and Trefnydd
Earlier this year, I announced a capital investment package of £85m, to provide confidence and certainty to businesses in Wales at a time when both were in short supply as a result of the ongoing uncertainty caused by Brexit.
Since then, the Welsh Government has continued to prepare for Brexit and to help businesses and public services prepare for Brexit, reducing, as far as is possible, the negative consequences of leaving the European Union.
Today, I am announcing a further injection of £130m funding this year in key capital investments to provide further confidence in Wales and certainty for Welsh businesses and the public sector.
I am allocating an additional £53m to support businesses in the face of Brexit and providing extra investment for future developments, including:
- £30m in housing schemes, including £10m for modular factories.
- £19m in active travel and addressing pinch points on our roads.
- £20m on maintenance of schools and colleges.
- £7m to support our environment, including £4m for National Parks.
- £1m for a community asset loan fund to help make community facilities sustainable for the future.
These new investments are just one element of the comprehensive and ambitious capital programme, this government continues to deliver.
Since the Wales Infrastructure Investment Plan (WIIP) was published in 2012, our planned infrastructure investment to 2020-21 is almost £15bn, helping businesses and public services to plan ahead in difficult times.
I am also today publishing an updated version of the WIIP pipeline, which includes more detailed information about our planned infrastructure investments. It sets out more than £33bn of investment across a broad range of public and private sector projects.
As well as responding to the current challenges, we must plan for Wales’ future infrastructure needs and new ambitions. The funding announced today to support measures to respond to the climate emergency and protect Wales’ beautiful environment are an important step on that journey.
As we set budgets for future years, I am committed to using our capital levers to support a greener Wales. I will set out further details in the draft Budget on 19 November.