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How does the welsh government get its money?

ANSWER

Wales receives a budget allocation from the UK government which is determined by the Spending Review and any subsequent adjustments. In addition to the block grant, part of the budget is funded from money raised from devolved taxes. The Welsh Government can also access limited amounts of borrowing.

How is Wales funded?

Funding allocated to Wales by the UK Government is delivered in a single lump sum (block grant) which is held in a “bank account” at the Treasury called the Welsh Consolidated Fund. The block grant averages around £14-15billion a year, with this figure topped up by council tax and business rates to around £17billion a year.

How the UK Government Funds the Devolved Administrations? The mechanism by which the UK Government allocates funding to the DAs is called the block grant. It includes money the UK government has raised through fuel duty, oil and gas receipts, income tax, national insurance, corporation tax, air passenger duty, VAT, tax on alcohol and cigarettes, inheritance tax, and capital gains tax.

Who decides for Wales? The Welsh Government also sets the rates for the devolved taxes, and the Welsh rate of income tax, which must then be approved by the Senedd. However, most of the Welsh Government’s total budget comes as a block grant from the UK Government. The Welsh Government is free to allocate the money between departments as they see fit.

What is devolution?

The Welsh Government governs Wales, as its name suggests. It proposes new laws, which have to be approved by Senedd Members, and decides how to spend the money it receives from the UK Government Treasury. The amount of money allocated to the Welsh Government is determined by the Barnett Formula, which is calculated based on levels of public

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