CEREDIGION MP Ben Lake says the announcement of £1.2 billion for Welsh budget in today’s Autumn Statement is ‘clearly inadequate’ and criticised a ‘glaring omission’.

Responding to the Autumn Statement from Chancellor of the Exchequer, Jeremy Hunt earlier today, Plaid Cymru Treasury spokesperson Ben Lake MP said: “The Chancellor was at pains to claim that this statement was not an austerity budget. Let’s be clear – pressures on Welsh public services will continue to worsen after today’s statement due to inflation.

“A decade of austerity followed by the pandemic has stretched our public services to breaking point. The Welsh Government estimated that their ability to fund vital services will be diminished by £4bn. An additional £1.2bn is clearly inadequate for the task.

“The Welsh economy urgently needs proper investment in our underlying infrastructure – from energy, to transport, to digital connectivity. I reiterate Plaid Cymru’s call for the UK Government to establish a commission to reform the tax system in a progressive way. That is the only way to provide sustainable funding for our public services.

“A glaring omission from the Chancellor’s statement was the impact that Brexit has had on the economy.

“Credibility requires honesty about the economic reality facing us. I urge the Chancellor to recognise that our economic prospects are worsened by being outside the world’s largest trade bloc, and to take practical steps to urgently reduce trade friction.

“In allowing energy prices to surpass £3,000 in April, the Chancellor will push thousands of Welsh households into fuel poverty. For those living off the gas-grid the increase in the Alternative Fuel Payment to £200 will be little consolation given that the cost of heating oil has more than doubled over the past year and we are still none the wiser about when the money will be delivered.

“It is also concerning that businesses that are not connected to the mains gas grid are also being made to wait to learn when they will receive support with their heating costs this winter. Many are already having to make difficult decisions, and so I fear that the Government is leaving it too late to help thousands of off grid businesses across Wales.”

Announcing the funding for Wales, The Chancellor of the Exchequer, Jeremy Hunt, said: “In the face of rising prices and soaring inflation, this Autumn Statement will help deliver economic stability and sustainable public services across the UK.

“Difficult decisions have been made, but we are taking decisive action to support the people of Wales, including increasing pensions and benefits in line with inflation next year and providing the Welsh Government with £1.2 billion in additional funding over the next two years.

“This money will protect the most vulnerable in our society and support households, businesses and public services through the challenging times ahead.”

The Autumn Statement has also been criticised by the Liberal Democrats in Wales.

Mid and West Wales MS Jane Dodds said: “Every single tax rise and spending cut in this budget has come about because of the incompetence of the Conservative party.

“While Boris Johnson and Liz Truss have trashed our economy, hardworking Welsh people are now being left to pick up the pieces of their destruction, including having their income squeezed like never before and living standards falling.

“A recession that is set to wipe out 8 years of rising living standards with standards falling 7 per cent over two years, that is the price of a Conservative Government.”