The real headline of Phillip Hammond’s Budget is a spell of gloomy economic results. The downgrading of the GDP forecast, alongside falling productivity and rising debt, shows this Tory Government’s economic credibility lies in tatters. To top it all off, the Chancellor made a pitiful offer of £1.2bn to Wales. Part of which must be repaid to the Treasury, and contains straining barriers on what it can be spent on.
At such a vital time for our railways in Wales, the Chancellor completely failed to address the funding concerned expressed by colleagues of all parties in recent months. No u-turn on the cancellation of rail electrification West of Cardiff, no confirmation of the funding agreement for the new Wales and Borders franchise and no money for essential and much-needed rail upgrades. To make things worse, there wasn’t a single mention of the Swansea Bay Tidal Lagoon. Just when will we know if this project is getting the green light? Yet again, no long-term solutions from this driverless Tory Government whose wheels are rapidly falling off.