Part of 1. Questions to the Cabinet Secretary for Finance – in the Senedd at 2:02 pm on 16 May 2018.
Thank you, Llywydd. A fortnight ago, Cabinet Secretary, you published the mid-term review in terms of the Wales infrastructure investment plan, which originally included a pipeline of projects worth £42 billion in total. Now, of course, in next year’s budget there’s only around £1.5 million—£1.6 million—which is capital investment, and I think we recognise, having done the maths, that it would take many, many years for us to deliver all of the investment needs in terms of infrastructure. You have to contrast this, of course, with the situation in the south-east of England and London, which is the corner of the UK that receives the largest slice of the cake in terms of infrastructure investment, and they are now about to receive an additional £550 million to save the Crossrail project, which, apparently, is overspending. To put this in context, that is a little less than half of what the UK Government intends to invest in the rail network in Wales over this next investment period of five years. So, can you confirm that Wales will not receive any additional funding as a consequence of that additional investment in Crossrail, because, under the financial settlement as it stands, there is a comparison factor of 0 per cent that is used in terms of the formula? And, along the same lines, if railways were to be devolved entirely, as is the situation in Scotland and Northern Ireland, wouldn’t Wales benefit to the tune of some additional £700 million, which could be invested in our network in order to make up for the underspending that has been the case over the past few years, and that could be done over the next five years between 2019 and 2024?