Budget 2021 Effect on Economy 2021-03-17
2021-03-17
TAGS
Response quality
Questions & Answers
Q1
Partial Answer
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Context
The question follows Budget 2021 and inquires about its specific effects on the Welsh economy, particularly highlighting recent financial commitments such as £4.8 million for the Holyhead hydrogen hub and up to £30 million to the global centre of rail excellence.
What assessment has been made of the effect of the Budget 2021 on the Welsh economy?
On top of the new UK-wide funds, £4.8 million has been committed to the Holyhead hydrogen hub, up to £30 million to the global centre of rail excellence, and we are accelerating funding for the growth deals in Wales.
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Assessment & feedback
The answerer provided specific financial commitments but did not offer a comprehensive assessment of Budget 2021's impact on the Welsh economy as requested.
Response accuracy
Q2
Partial Answer
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Context
The question pertains to the Chancellor's super deduction announced in Budget 2021 and its potential impact on north Wales' aerospace manufacturing sector, which is described as strong and proud.
In north Wales, just as in Burnley, there is a strong and proud aerospace manufacturing sector. Does my right hon. Friend agree that the Chancellor's super deduction, announced at the Budget, could be transformational for that sector, allowing it to invest in equipment and machinery that will create jobs and boost productivity?
My hon. Friend does not have to take it from me; he makes a very good point and I have to tell him, from the number of stakeholder engagements we have had in the Wales Office, including with that sector, that the reception to this particular recommendation has been fantastic. It is transformational. This is the first time this has ever been done—probably the biggest tax cut in history. That is the sort of thing that will regenerate jobs and livelihoods at a time when they are most needed, and I congratulate the Chancellor on his efforts.
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Assessment & feedback
The answerer did not directly address whether he agrees with the transformative impact but rather discussed the general reception to the recommendation.
Response accuracy