Wales: Additional Financial Resources - Question

Part of the debate – in the House of Lords at 3:07 pm on 18th January 2023.

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Photo of Baroness Penn Baroness Penn The Parliamentary Secretary, HM Treasury 3:07 pm, 18th January 2023

My Lords, we have a difference of opinion on the figures. That might be because government budgets are routinely translated into real terms using the GDP deflator, by both the Treasury and independent bodies such as the OBR and the IFS. Using those figures, we see that the Welsh spending settlement is still growing in real terms this year and over the spending review period, even after the higher costs, and we believe that the Welsh Government are well funded to meet their obligations.