FMQs alternative funding for Wales

Mark Drakeford: Pa gamau y mae Llywodraeth Cymru wedi’u cymryd i ddatblygu’r defnydd o ffynonellau newydd neu amgen o gyllid yng Nghymru.

[What steps has the Welsh Government taken to develop the use of new or alternative sources of funding in Wales]

The First Minister: In the programme for government, we committed to examining innovative means of funding public sector infrastructure. We have made good progress, securing additional investment to finance our strategic priorities and to boost jobs and growth. There will be further details in the statement that the Minister for finance will make shortly.

Mark Drakeford: We look forward to that statement this afternoon. The plan contains a commitment to continue to develop innovative approaches to lever in significant additional investment for public infrastructure in Wales. Can you provide us with an assurance that, where there are important public purposes at stake, this Government will continue to look as vigorously as possible at a range of innovative ways in which we can attempt to make good the cuts that we know are being imposed on infrastructure and services here in Wales?

The First Minister: Indeed we will, and let me give you one example of where that has already happened. At the end of March, we created the Ely Bridge Development Company Ltd with our partners, the Principality Building Society. That company will deliver some 700 new homes, 400 of which will be more affordable properties, as well as redevelop an area of land that has been derelict for some years.