Additional £360million a year for Wales in 2020 UK budget

(Title Image: The Guardian)

UK Chancellor, Rishi Sunak MP, has announced an additional £360million a year for the Welsh Government in the long-delayed 2020 UK budget.

The Welsh Government said the £360million doesn’t take into account £100million worth of capital funding (not including a further £100million in repayable business support funding) clawed back by the UK Government in recent weeks.

£16million will be made available to develop fibre broadband in southern Wales and Pembrokeshire, while funding has also reportedly been committed towards initial work on a cross-border Pant and Llanymynech bypass between Welshpool and Oswestry.

Elsewhere, S4C will receive £15million of VAT refunds a year, while the UK Treasury will establish what it describes as a “presence” in Wales.

Across the UK as a whole, fuel and alcohol duties have been frozen, the threshold for national insurance contributions will rise to £9,500 and VAT on women’s sanitary products will be scrapped.