Part of 1. Questions to the Cabinet Secretary for Finance, Constitution and Cabinet Office – in the Senedd at 2:08 pm on 19 June 2024.
Thank you for your response. The amount of capital borrowing devolved was last increased in 2019, which is a long time ago. Public services such as health, housing, education and public transport are the building blocks of our economy, and there is no way to grow the economy without providing proper investment in these. Gross domestic product debt after world war two was actually double what is now, yet the Attlee Government borrowed thousands—well, hundreds and thousands of pounds to invest; millions—to build hundreds and thousands of houses, to invest in housing and health, and they actually transformed the country, and we're still reaping the benefits today with our NHS service and our council housing programme. Wales desperately needs increased prudential borrowing powers to make transformational investments in these areas. With this in mind, Minister—Cabinet Secretary—would you commit to requesting full prudential borrowing powers of any incoming UK Labour—Labour Government—any incoming UK Government? Sorry, I was being presumptuous there.