VALE of Clwyd MP James Davies has given his thoughts on the Budget 2021.

Dr Davies welcomed the first phase of Levelling Up support for Denbighshire County Council; chancellor Rishi Sunak revealed in his Budget on Wednesday, March 3 that Denbighshire County Council will receive £150k of feasibility monies to work up projects for the new ‘Levelling Up’ fund.

The scheme, which will run from 2021/22 to 2024/25, will invest in infrastructure that has a visible impact on people and their communities.

Dr Davies said: "There is already much regeneration work being carried out across Denbighshire but that needs to step up a gear and this funding will enable me to work with the council to ensure that is the case.

“The UK Government has supported hundreds of thousands of people and businesses in Wales through the pandemic and this funding demonstrates the Government’s further commitment to improving the lives of people in North Wales and ensuring that Denbighshire is not left behind."

Mr Sunak outline a lengthy list of measures in the Budget which Dr Davies believes will provide "immediate and long-term benefits for North Wales."

Some of the key elements of the Budget relating to Wales included:

  • The Budget confirmed an additional £2.4 billion for the devolved administrations for 2021-22 through the Barnett formula. This is an additional £1.2 billion for the Scottish Government, £740 million for the Welsh Government, £410 million for the Northern Ireland Executive. Devolved administrations will also receive £1.4 billion of funding in 2021-22 outside the Barnett formula.
  • £4.8 million to support the development of a demonstration hydrogen hub in Holyhead, Anglesey.
  • Up to £30 million for the Global Centre for Rail Excellence in Wales.
  • Three City and Growth Deals – in North-Wales, Mid-Wales and Swansea Bay – will receive funding more quickly.
  • Publication of the prospectus for the £4.8 billion UK-wide Levelling Up Fund, providing guidance for local areas on how to submit bids for the first round of funding starting in 21-22.

Dr Davies said: "I am delighted that this Budget delivers for North Wales.

“In addition to the extension of universally supported income and business assistance packages, the chancellor has invested in our future.

“As a result of today’s announcements, the Devolved Administration will receive £740 million in Barnett consequentials, bringing the total funding from the UK Treasury up to £7.9 billion. The Chancellor has done all that he can to provide assistance and clarity to my constituents, and the First Minister must now do the same.

“I look forward to working with the chancellor, local leaders and business representatives to ensure that the Vale of Clwyd makes the most out of the opportunities which have been presented."

Dr Davies did comment on the extension to the temporary cut in Stamp Duty Land Tax in England and Northern Ireland until September, that will support the housing market and protect and create jobs.

“I have been contacted by people moving in the Vale of Clwyd who are worried that they will miss the stamp duty cut off," he said.

"The chancellor has now pushed back the deadline in England by three months, followed by a tapering over a 12 week period, and the first minister must do the same with Stamp Duty Land Tax (SDLT).”

In addition to the measures which have been introduced, the chancellor maintained his commitment to those on National Living Wage, increasing the hourly rate to £8.91 from next month.