Due to the exceptional circumstances of this financial year as a result of the coronavirus pandemic, I published this interim supplementary budget to provide an update on the Welsh Government's fiscal position. It ensures that the Welsh Government's financial position remains transparent. I'd like to thank the Finance Committee for its consideration of this budget and for the publication of its report and I'm pleased to note that it welcomes the transparency afforded to the Senedd in bringing forward this additional supplementary budget. I will provide a detailed response to each of the committee's recommendations in due course.

The purpose of this supplementary budget is to reflect the changes that have arisen as a result of the measures taken to respond to the immediate impact of the pandemic since the first supplementary budget was published in May. It includes allocations from reserves agreed since the first supplementary budget that relate to the acute end of the crisis, consequentials due as a result of UK Government announcements in respect of COVID interventions including the funding guarantee, and revisions to the land transaction tax forecast and block grant adjustment for stamp duty land tax, arising from the temporary changes to these taxes.

This supplementary budget increases the overall Welsh resources by £2.5 billion. This is a further 11 per cent increase on the position set out in the first supplementary budget some five months ago. Since the final budget was approved in March 2020, Welsh resources fro 2020-21 have increased by more than 22 per cent. In response to the immediate impact of the coronavirus pandemic, this supplementary budget allocates over £1.5 billion, including £800 million for an NHS stabilisation package to help the Welsh NHS to continue to respond to the impact of COVID-19.

We recognise the massive and unprecedented challenges the pandemic is having on our health service here in Wales. This funding will support NHS organisations across Wales to prepare for the anticipated challenges that winter will bring, responding to a second wave of the virus alongside normal winter pressures whilst continuing to further increase access to essential services. This funding takes the total amount of Welsh Government COVID-19 support for NHS organisations to more than £1.3 billion and £264 million has been allocated to support local authorities for the remainder of this financial year. This will meet the ongoing need for additional support in response to the pandemic, covering the additional costs, loss of income and the general financial position of local authorities.

Fifty-three million pounds has been provided for the cultural recovery fund to help support and sustain the sector during the ongoing challenges resulting from the pandemic, £113 million has been allocated to ensure train services continue to operate on the Wales and borders network for key workers and others who rely on the train to travel, and £50 million to support Welsh university and college students to provide skills and learning in response to the economic impact of the virus.

The focus of this budget is to ensure that the Welsh Government's financial position is transparent. Whilst we continue to respond to the impact of the coronavirus pandemic, it is right that I bring an update in the form of this supplementary budget before the Senedd at this time. We are the only Government within the UK to have published a second update to our in-year budget and to provide transparency of our funding decisions in this way. 

Of course, the fiscal position continues to change. On 6 October, I announced a further substantial package of funding, totalling £320 million, to help people and businesses to survive the challenging times ahead, when, only a few weeks ago, the UK Government announced a further increase of £600 million to the additional funding guaranteed for this year. I continue to carefully monitor our financial position, and will table a third supplementary budget, reflecting all of these changes, later in the year, and I ask Members to support this motion.