UK Government Budget and structural investment in Wales

That this House expresses profound concern that the UK Government’s recent Budget fails to deliver the structural reforms and investment necessary to meet Wales’s long-term economic and social needs; regrets in particular that the Budget did not include the devolution of the Crown Estate in Wales, despite strong cross-party and civic support for doing so; further regrets that it did not provide for the devolution of heavy rail infrastructure, limiting Wales’s ability to plan and deliver an integrated, modern transport system; notes with disappointment that the Government has not reclassified England-only infrastructure projects that have been incorrectly designated as “England and Wales” projects, which has the effect of reducing Wales’s fair share of funding through the Barnett formula; recognises that these omissions compound wider funding shortfalls, including the failure to replace in full the EU structural funds previously available to Wales, believes that this Budget represents a missed opportunity to empower Wales with the tools needed to deliver sustainable and equitable economic development; and calls on the Government to bring forward revised proposals that devolve key assets and competencies, correct project classifications, and provide the resources required for genuine structural change.