Rachel Reeves

Chancellor of the Exchequer

Rachel Reeves

Chancellor of the Exchequer

Wales Hit by £65m Shortfall as UK Treasury Fails to Compensate for National Insurance Rise

Permalink bbc.com
National Insurance rise: Drakeford criticises Reeves on compensation - BBC business-live.co.uk
Wales facing £65m shortfall to offset cost of rise in national ... readingchronicle.co.uk
Welsh public services face £65m black hole due to tax hike, Senedd ... walesonline.co.uk
Confusion over extra National Insurance cost as Drakeford admits 'I don ... bbc.co.uk
National Insurance hike 'pain' to hit jobs and pay, firms warn
  • Wednesday, 02 April 2025

Welsh Labour Finance Secretary Mark Drakeford criticized Chancellor Rachel Reeves for not compensating Welsh public services fully for the National Insurance rise. He claimed that using the Barnett formula to calculate funding would leave Wales £65m short, while England's public sector employers would be fully covered. Labor Blaenau Gwent Senedd member Alun Davies called it a "proper scandal", and Plaid Cymru described it as "shocking". Drakeford said the UK Treasury made the wrong choice and that Welsh public services will look to see if they can do anything to help those affected.

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