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Wales

Depending on the outcome of the forthcoming referendum, the Government will consider with the Welsh Assembly Government the proposals in the final Holtham report, consistent with the work being taken forward in Scotland following the Calman Commission.

• Capital projects of UK departments that will benefit Wales:
  • the Government is supporting investment to improve journey reliability on Great Western Main Line services to Wales – no Department for Transport decision yet on rail electrification to Swansea
  • Investment in the M4/M5 interchange will reduce journey times to and from Wales
  • funding agreed for a package of rail capacity improvements on the Barry to Cardiff corridor
  • £13bn PFI contract for the Future strategic Tanker Aircraft programme will continue – this includes Airbus UK in Broughton, Wales where the wings will be manufactured
  • RAF base Valley, on Anglesey will remain in service

Fairness

• uprating of the Basic State Pension (BSP) by the highest of earning, prices or 2.5 per cent, from April 2011, benefiting around 600,000 million people in Wales; and
• above indexation increases in the child tax credit, funded by savings from restricting child benefit entitlement for households with a high rate taxpayer, potentially benefiting over 215,000 families in Wales.

Latest Employment statistics

• Over the last year there has been a 0.3 per cent rise in employment and a 0.9 per cent fall in unemployment; and
• The public sector workforce is 27.5% of the total workforce.

The Spending Review builds on the foundations for sustainable, balanced, private sector-led recovery set out in the Chancellor’s June Budget. The Budget announced a number of initiatives which will help build an economy that works for Wales.

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