The Welsh government has released its draft budget for 2012-2013, with the major focus being on promoting business growth and job prospects.
Although the business department has in fact has its budget cut in the draft, the government insists that this budget aims to improve the country’s economic performance through investing in areas it sees as “key” to growth.
An example of one of these areas is the new scheme being created – Jobs Growth Wales. £75 million will be invested in it and its aim is to create 4,000 jobs for young people each year by getting them involved in training programs and employment opportunities specifically aimed at them. The finance minister, Jane Hutt, defended the budget by saying that on top of this scheme, special attention will be given to construction and infrastructure, which they feel is of utmost importance with regard to getting the economy moving.
However, not everyone agrees, and the shadow finance minister, Paul Davies, feels that economic growth will be inhibited if anything and he accused the government of especially ignoring small businesses in Wales, since he feels their plans only offer benefits to larger companies. He also criticised the government for being vague with regard to “enterprise zones”.
In the budget as a whole, it seems all areas except health and education will be cut, with the cuts ranging from 0.9% for the environment department and 4.9% for the housing, regeneration and heritage department.