What the Spring Budget means for Wales

8 March 2017, 12:44

British money

The Chancellor has set out his plans for the country's finances in the Spring Budget.

Philip Hammond says the Budget is "building the foundations of a more global Britain", but admitted "too many families are still feeling the squeeze".

Here's how the announcements will affect people in Wales.

What it means for your wages ...

  • Unemployment has fallen faster in Wales than other parts of the UK
  • High earning self-employed workers will pay 60p a week more in National Insurance contributions

What it means for your finances ...

  • A sugar tax of up to 24p a litre will be added to the price of some fizzy drinks
  • There won't be any changes to taxes on alcohol, tobacco or fuel duty
  • Changes to simplify terms and conditions to protect consumers from unexpected fees

What it means for Wales ...

  • The Welsh Government will get an additional £200m in funding
  • Talks ongoing for a Swansea City Deal and growth deal for North Wales
What it means for the UK ...
  • £350m funding for the Scottish Government and £120m for the Northern Ireland Executive
  • £270m for new technologies like robots and driverless vehicles
  • £16m to invest in 5G mobile technology and £200m to invest in broadband
  • £5m for projects to mark 100 years since women were given the vote
  • £5m to support people going back to work after a career break