Treasury

In addition to changes in devolved Government funding at supplementary estimates 2024-25, and in line with the statement of funding policy, the Welsh Government have chosen to draw down £125.000 million in resource DEL (excluding depreciation) and £50.000 million in capital DEL (general) from the Wales reserve in 2024-25. The Welsh Government have also chosen to switch £202.000 million from resource DEL (excluding depreciation) to capital DEL (general). These changes are in line with the funding arrangements set out in the Welsh Government’s fiscal framework.

There have been further changes to devolved Government funding due to the application of the Barnett formula—changes that were processed after the finalisation of supplementary estimates 2024-25. These have resulted in a change of £0.019 million CDEL (general) for the Welsh Government and £0.812 million CDEL (general) for the Northern Ireland Executive in 2024-25. The Scottish Government will carry forward their £1.975 million CDEL (general) increase to 2025-26 with no change to their funding for 2024-25.

The Welsh Government will also return £2.000 million CDEL (general) funding for the north Wales growth deal in 2024-25 and £7.000 million CDEL (general) funding for the construction of border control posts. This is to ensure the profile of funding better reflects the delivery of the deal and of border control post construction.

Revised 2024-25 funding is as follows:

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A double taxation convention with Peru was signed in London on 20 March. The text of the convention is available on the HM Revenue and Customs pages of the gov.uk website and will be deposited in the Libraries of both Houses. The text of the convention will be scheduled to a draft Order in Council and laid before the House of Commons in due course.

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