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The Welsh government has set aside £50m to boost social housing development in the event of a no-deal Brexit.
The cash has been reallocated from existing programmes and forms part of an £85m package to support Wales’s economy if the UK crashes out of the EU without a withdrawal agreement.
Ministers said the money would be invested in local government social housing programmes, helping to deliver up to 650 homes across the country, stimulating the construction industry and providing a year’s employment for around 1,000 people.
Inside Housing revealed in March that the Welsh government was in discussions with the social housing sector over a no-deal Brexit stimulus package.
Rebecca Evans, finance minister for the Welsh government, announced the no-deal package as part of the First Supplementary Budget 2019/20 yesterday.
She said: “The risks associated with a no-deal Brexit have not gone away. It is our duty as a responsible government to prepare – as far as possible – for all outcomes.
“The £85m package will fund a range of projects that can be delivered quickly, providing economic benefits that are aligned to our priorities and that can stimulate wider economic demand at a time when it is needed most.
“While we are taking practical steps to prepare for a no-deal Brexit, I want to be absolutely clear – a no-deal Brexit would be hugely damaging to Wales and its economy.”
The package also includes an extra £20m for local government, £10m for the Welsh government’s Economy Futures Fund and £5m for road maintenance.
The First Supplementary Budget outlines changes since the Welsh government’s 2019/20 budget was approved in January and will be debated by Welsh Assembly members on 9 July.
Earlier this month, the Welsh government shifted its position to campaign for the UK to remain in the EU through a second referendum.