Wales is to get an extra £400 million over the next five years to spend on capital projects, such as roads and schools.
As part of his Autumn statement on Wednesday, November 22, UK Chancellor Philip Hammond said he was increasing the amount of money spent on roads in England.
As a result of the Barnett formula – the mechanism which determines how much money Wales gets from the UK Government – a further £400m will be made available to the Welsh Government.
Welsh Finance Secretary Mark Darkeford welcomed the additional funding, but said it did not go far enough.
He said: “As a government, we have been clear about the importance of investing in Wales’ infrastructure – in these uncertain times this is more important than ever. This is why we called on the UK Government to boost investment to support economic growth.
“Although today’s announcement doesn’t go as far as we had hoped, this extra investment goes some way to restoring the cuts we have seen to our capital budget over recent years.”
He added: “The additional capital funding will provide additional resources to enable us to continue to invest in new infrastructure, creating jobs and securing Wales’ future prosperity.
“We will consider how we use this additional funding to support our investment priorities, which are set out in Taking Wales Forward and will make an announcement in the near future.”