Work is the best route out of poverty. Since 2010 there are 667,000 fewer children living in workless households – a near record low. Employment is at a record high, unemployment is at its lowest rate since the 1970s, and wages have outstripped inflation for a year.
As a result of UK Government decisions at Budget, the Welsh Government benefited from a £550 million funding boost. This includes over £25 million resulting from a 5% uplift in Barnett consequentials as agreed in the Welsh Government’s Fiscal Framework. It is for the Welsh Government to decide how to spend this funding according to its priorities.