October 14, 2025 - 249 views
Finance Secretary Mark Drakeford has urged all political parties in the Welsh Government to support Wales' Draft Budget for 2026-27, ensuring public services can plan ahead for the Senedd elections.
All government departments in the next financial year will have at least the same amount of funding, in real terms, as they had this year.
The Draft Budget outlines department allocations, with health and social care receiving the largest share. The Final Budget in January will see more detailed spending plans published.
Finance Secretary Mark Drakeford said: "The Draft Budget is the beginning of the budget process – not the end. It provides a firm foundation to help public services plan for the year ahead.
"They can have confidence more can be done as we work towards the Final Budget in January. A lot will change between now and the vote in the Senedd at the end of January.
"My door is firmly open to working with other political parties in the Senedd who share my belief that a more ambitious budget can be reached and that we have a collective responsibility to pass the Welsh Budget."
The Draft Budget for 2026-27 is being released in two stages, with the first stage giving details on department allocations.
The budget is being increased by 2% to account for inflation, with over £27.1bn allocated, the largest chunk going to health, social care, and the early years department. Welsh Rates of Income Tax and Land Transaction Tax thresholds will stay the same, while Landfill Disposal Tax rates will rise based on the forecast Retail Price Index.
The next stage of the Draft Budget, which features more detailed departmental spending plans, will be published on 3 November. The draft local government settlement will be published later in November.
Mark Drakeford added: "We want to provide certainty and stability for our public services and to the people who rely on them. Our spending plans will continue to prioritise a healthier Wales, green jobs and growth, connecting communities, and opportunities for every family."
