Following the UK Government’s Autumn Statement, the Welsh Government’s draft budget for 2023/24 has been published. 

Commenting on its publication, minister for finance and local government, Rebecca Evans MS said: “This is a draft budget unlike any other that we’ve laid since the start of Devolution. It’s been one of the toughest that we’ve ever made, reflecting the perfect storm of economic and budgetary pressure faced in Wales." 

The Budget states that the economy in Wales is now in the early phase of recession, with the briefing also highlighting the rising unemployment levels in the UK to 6.4% – which is equivalent to around 40,000 more people out of work in Wales.  

ACE members will be pleased to know that despite the macro-economic challenges, the Welsh Government made it clear they are committed to the ambitions set out in the Wales Infrastructure Investment Strategy (WIIS) published in December 2021. A specific pipeline of programmes and projects need to deliver the WIIS has been published alongside the pipeline.  

Similarly welcomed, is the Welsh Government’s continued commitment to invest in apprenticeships and provide an additional £18m of funding these with a specific focus on the technical skills which will deliver net zero. Finally, the Budget briefing outlined an extra £40m to support public transport to deliver much-needed low carbon transport and improve connectivity.  

A briefing on the announcements and takeaways from the Welsh Budget has been produced for anyone working for an ACE member. Simply register or login with your work email to access it. 

Commenting on the announcement, ACE policy and advocacy officer Olivia Smalley said: ‘Members will be pleased to see the Welsh Government publish a specific project pipeline alongside the Budget, giving them the clarity needed to plan for the future and build confidence in the sector in Wales as we move into 2023.  

“Additional funding for skills is also welcome and something ACE has championed. We, of course, wait to see what this means in practice but a skilled workforce delivering our net zero future is something all members will support.” 

Find out more about ACE in Wales. Meeting dates for 2023 have been published, please get in touch today if you and your company would like to get involved.

Download your exclusive member briefing below.