A new report is recommended that the Welsh Government gets the ability to borrow more money.
The Institute for Welsh Affairs released its new report, Fiscal Firepower and Effective Policy-Making , which suggests that the Welsh Government lacks the ‘fiscal firepower’ for larger-scale or more transformative policy measures. It recommends reform of the Welsh Government’s borrowing powers to better enable transformative policy making in Wales.
The report finds that despite having fairly strong powers and a budget in the tens of billions, the Welsh Government only has a limited ability to kickstart major projects to improve people’s lives. It claims that "Wales faces urgent challenges including climate change, a cost-of-living crisis, dealing with the fallout of the Covid-19 pandemic and its impact on public services, a broken housing system, and more" and that "these are big problems that will require equally big solutions".
