The Welsh Government sets its budget annually in a multi-stage process. Budget setting involves three elements:
- Draft budget proposals: sets out the Welsh Government's spending plans and allows for scrutiny and amendment by the Senedd.
- Final budget and Annual budget motion: seeks the Senedd's formal authorisation for the use of resources during the financial year.
- Supplementary budget motion: seeks authorisation for in-year changes to the annual budget motion.
The Welsh Government usually presents its draft budget in autumn each year. Committees and other interested parties scrutinise the draft budget. The Welsh Government then present a final budget, the annual budget motion is voted on by the whole Senedd.
There are occasions when a late UK Spending Review or Budgetary announcement means the Welsh Budget has to take place later in the year.
Welsh Government Budget Timeline 2025-26
June 2024 - Finance Committee
Pre-Draft Budget stakeholder event in Carmarthen
June/July 2024 - Finance Committee
Further engagement with citizens
17 July 2024 - Finance Committee plenary debate
Finance Committee Plenary debate on the Welsh Government’s spending priorities
September 2024 - Finance Committee open call for evidence
The Finance Committee will run a consultation to inform later scrutiny of the Draft Budget in Senedd Committees
30 October 2024 - UK autumn statement
10 December 2024 - Outline and Detailed draft budget
Outline and Detailed draft budget published showing spending, taxation and financing plans. Scrutinised by Finance and policy committees
3 February 2025 - All committees reporting deadline