The Welsh Cabinet has met during summer recess to discuss financial pressures it is facing ahead of Budget 2024-2025.
Wales’ First Minister Mark Drakeford has said this is the “toughest financial situation” the Welsh government has faced since devolution.
In a written statement following the Cabinet meeting on August 1, Drakeford added that cabinet will continue to work over the summer to mitigate this budgetary pressure, with a particular focus on frontline services and those at greatest need.
He said the root of the pressure is inflation, and the “mis-management of the economy and public finances by successive UK governments”.
“When we made our budget for 2023-24, we drew on all our available resources to protect frontline services and provide targeted cost-of-living support to individuals and the economy,” he added.
“But even after doing all that, our financial position after the UK Spring Budget in March, was up to £900 million lower in real terms than when that budget was set by the UK Government at the time of the last spending review in 2021.”
A further update will be provided to the Senedd once this work has been completed, the First Minister said.
The Welsh government continues to be on official recess until September 10; this statement was issued in order to keep members informed.
