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Teleri Glyn Jones is a political reporter for BBC Wales News. In a recent statement, Wales’ First Minister Eluned Morgan emphasized the need for a change in the funding system, expressing her reluctance to rely on Westminster for financial support. She highlighted the necessity to revamp the way funding is allocated to Wales, although it remains uncertain if this is a consideration for the UK government.
During the Spending Review, the UK Labour government committed to providing £445 million for rail projects in Wales, £118 million for the restoration of coal tips, and additional funding for the Welsh government’s day-to-day expenditure. Chancellor Rachel Reeves defended the spending plans for Wales, asserting that the UK government had met the requests put forth by the Welsh government.
Calls for fair funding in Wales have intensified among Welsh government officials and Welsh Labour MPs. However, opposition parties continue to argue that Wales is not receiving equitable funding. There have been ongoing appeals for a revision of the formula used to determine funding allocations to ensure Wales receives its rightful share automatically.
Eluned Morgan underlined the significance of securing Wales’ economic future without continually seeking financial assistance from Westminster. Addressing the need for systemic changes to attain Wales’ rightful percentage of funding, she emphasized the necessity for a more just allocation system. The majority of the Welsh government’s funding is derived from the UK government through the block grant, determined by the Barnett formula based on expenditures in England on devolved issues like health and education
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