Draft Government of Wales Act 2006 (Increase of Capital Borrowing Limits) Order 2026
I thank the hon. Member for East Grinstead and Uckfield for her contribution. The draft order delivers the Government’s autumn Budget commitment to increase the Welsh Government’s cumulative borrowing limit by 10%. I mentioned in my opening remarks how we got to that. To be clear, this order gives the Welsh Government additional flexibility to manage their own budget; it does not change the overall funding settlement or the Barnett formula. It was agreed at the last Budget and announced by the Chancellor then. The Welsh Government are accountable to the Senedd for how they use these borrowing powers. From Westminster, we will be looking to our colleagues in the Senedd to scrutinise how the Welsh Government use the additional powers. The Welsh Government are accountable for ensuring that this extra borrowing—indeed, the whole borrowing—delivers value for money for the people of Wales and all our constituents. I am very proud to be part of a UK Labour Government who have delivered the biggest settlement in the history of devolution. It will be a game changer, and it will make a difference to people on the ground. I am aware that many Members are trying to get to the football. If there is anything further that the hon. Member for East Grinstead and Uckfield would like to raise, I am very willing to have that conversation, but it is the Senedd that scrutinises the Welsh Government. I am proud of the UK Labour Government’s work in enhancing these powers.