<p>Her Majesty’s Treasury Deficit </p>

Part of 2. 2. Questions to the Cabinet Secretary for Finance and Local Government – in the Senedd at 1:52 pm on 19 October 2016.

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Photo of Baroness Mair Eluned Morgan Baroness Mair Eluned Morgan Shadow Spokesperson (Wales) 1:52, 19 October 2016

Thank you. The Cabinet Secretary yesterday gave a warning that there are leaner times ahead, and that this year’s budget should be used as an opportunity for those public sector recipients of funding to prepare for cuts in terms of the austerity that’s being imposed by the UK Tory Government. But now we have this additional problem of this £66 billion of a projected shortfall if we were to go for a hard Brexit, complying with World Trade Organization rules rather than having free unfettered access to the EU. That would make a massive dent in Welsh Government receipts. To what extent has the Cabinet Secretary factored into his predictions the impact of that £66 billion dent, and what impact would that have on future capital expenditure projections?