THE WELSH Government has announced more than £181m extra investment in rail services, with a priority to complete the transformation of the Core Valley Lines in 2025-26.
Publishing the Draft Budget yesterday afternoon, Cabinet Secretary for Finance Mark Drakeford outlined Welsh Labour’s continuing work with the UK Government to ensure a fair approach to rail funding and investment in Wales.
The new funding includes maintaining the £120m fund for local authority capital transport grants to invest in road projects, safe streets, active travel, bus infrastructure and EV charging infrastructure.
This is in addition to the creation of a £25m road improvement fund to improve the strategic road network, which will enable Welsh Government to improve 100km of the roads to reduce and prevent potholes.
For the first time, Welsh Labour is able to unlock the power in partnership of two Labour governments working together by allocating more than £3bn of capital in the Draft Budget. Every department will benefit from an increase in funding. This means the Welsh Government can once again invest in the fabric of Wales.
This is in stark contrast to previous years, when the government were forced to make very difficult decisions to re-shape spending plans and cut budgets. Now, there’s an extra £1.5bn for public services and priorities, putting Wales back on the path to growth.
The funding package will provide an additional £5m to local authorities to enable them to self-finance £60m of capital investment for road maintenance to fix local roads, and £9m of extra funding will be made available for bus services to support the upcoming Bus Bill and the concessionary fares scheme.
First Minister Eluned Morgan said: “This is a Welsh Labour Government which reaches into and across every community. That’s why we’re already investing in key priorities across Wales and today’s investment of more than £181m in rail services will strengthen the Core Valley Lines and help to reconnect communities.
“We can’t undo all the damage inflicted on Wales over the last 14 years in just one year. But this budget shows the power of two governments, which share the same values, working together.”
Cabinet Secretary for Finance Mark Drakeford said: “This Draft Budget is a Budget for a brighter tomorrow. With two Labour governments working together, to provide public services with investment which has been denied for far too long, we are able to put Wales back on the path to growth and start undoing the damage inflicted on Wales over the last 14 years.
“We are continuing to deliver for Wales by providing a significant uplift to support our rail, travel, road and bus infrastructure. This is a Budget that will remind people in Wales why time after time they have put their trust in a Welsh Labour government.”
