Thank you. I'm pleased to open the debate on the final budget for 2020-21 this afternoon. Since we debated the draft budget in the Chamber a month ago, we've carefully considered the recommendations of the Finance Committee's report and those of the other Senedd committees. In line with the commitment we made following last year's scrutiny, I am pleased that we were able to respond to all of the reports by the end of last week, and I responded formally and positively to the 27 recommendations put forward by the Finance Committee.

At this stage in the budget process, we would normally look to take account of any significant adjustments resulting from the UK budget in the final budget. We know, however, that this year has been far from normal, given the UK Government's unpredictability. We've seen a promised multi-year spending review, which translated into a one-year spending round, and an autumn UK budget that is now set for 11 March—too late for us to take into account in publishing our final budget proposals. Not only are we constrained in this aspect, the UK Government, late on in this financial year, dealt us another blow by cutting our financial transactions capital by more than £100 million, and our traditional capital by close to £100 million.

In simple terms, the UK Government is taking £200 million away from us in what is a challenging time. I've written to the Chief Secretary to the Treasury objecting strongly to these changes being made so late in the day. We're seeking clarification, and as soon as I have that clarity, I'll write to the Finance Committee with the details. This is yet another example of why we need to complete the joint work with the UK Government and the other devolved Governments to review and improve the statement-of-funding policy, which is integral to our ability to plan and manage budgets. And this is a point I'll be pressing, along with the finance Ministers of Scotland and Northern Ireland, at a meeting of the finance Ministers quadrilateral next week.

Since we debated the draft budget a month ago, many communities in Wales have suffered the unprecedented and devastating impacts of storm Ciara and storm Dennis. Teams within Welsh Government have been working around the clock with local authorities, emergency services and Natural Resources Wales to provide the best possible urgent support to those affected. And I would like to take this opportunity again to put on record once more our thanks to the emergency services and volunteers up and down Wales, who have worked so tirelessly in recent weeks.

To support the initial recovery work, we have announced that up to £10 million will be made available immediately. We have been able to mobilise that funding in the short term through very careful management of our resources and the drawing together of funds from across Government. I wrote to the Chair of the Finance Committee last week, setting out how I plan to make that money available quickly, given the close proximity of the end of the financial year.

But we know that this is just the tip of the iceberg. Work is ongoing to get a clear picture of the scale of the damage, and to identify the longer term support needed.