How does the Cabinet Secretary intend to make use of the Welsh Government’s new borrowing powers for projects and developments in north Wales?
The 2018-19 Budget includes a commitment to borrow £375m over the next three years, working alongside the available capital budget and innovative funding schemes to support strategic investment priorities across the whole of Wales. Amongst the significant investments in North Wales we are investing £250m in continued improvements to the A55/A494 corridor, £164m towards the refurbishment of Ysbyty Glan Clwyd and £11m to deliver the construction of 2 new primary schools in Ruthin. This level of borrowing within our overall limit is an ambitious but prudent level of commitment, retaining a sensible degree of flexibility to enable us to borrow over and above existing plans to support additional investment, new priorities and opportunities should this be required.