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Birmingham Post
Birmingham Post
Business
Sion Barry

Devolved governments call for more funding from the Chancellor in the face of spiralling inflation

Nadhim Zahawi Inflation NHS UK Government

The devolved administrations have called on new Chancellor Nadhim Zahawi to provide additional budgetary funding to address spiralling inflation.

The letter, signed by the Welsh Government’s Finance Minister Rebecca Evans, the Scottish Government’s Cabinet Secretary for Finance, Kate Forbes, and Minister of Finance for the Northern Ireland Executive, Conor Murphy, also calls for targeted support for the most adversely impacted in society from the cost of living crisis rather than “reducing broad-based taxes."

It comes as new research from the Centre of Economic and Business Research (Cebr) shows higher tax receipts for the Treasury could leave the next Prime Minister with extra cash of £60bn by 2024-25.

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