Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of the Spending Review 2025 on businesses in Wales.

Spending Review 2025 (SR25) delivers for businesses UK-wide, including across Wales. Public finance institutions will work in collaboration with the devolved governments and local stakeholders to invest in businesses and technologies, and drive growth across all the nations of the UK. The British Business Bank, National Wealth Fund, and Great British Energy are already investing in businesses across Scotland, Wales and Northern Ireland.

The government is due to publish its modern Industrial Strategy setting out how the government will accelerate growth in eight growth-driving sectors and strengthen economic resilience across the UK.

The growth-driving sectors – advanced manufacturing, clean energy industries, creative industries, defence, digital and technologies, financial services, life sciences, and professional and business services – are active across the regions and nations, each with their own specialisms. Supporting the success of these sectors, and the places where they are based, will be crucial in delivering high-quality jobs, new opportunities and higher living standards across the whole country.

Further detail on what SR25 delivers for businesses across the UK can be found at: Spending Review 2025 document - GOV.UK