Business
£335m to support Welsh businesses unveiled by the Welsh Government
A £335 million package to help businesses with their rates bills in 2025-26 was unveiled by the Welsh Government today (Dec 11), including continued support for retail, hospitality, and leisure businesses for the sixth consecutive year.
As the Draft Budget was published this afternoon, Cabinet Secretary for Finance, Mark Drakeford, highlighted Welsh Labour’s commitment to economic growth, job creation, and decarbonisation. Key funding allocations include £144 million for all-age apprenticeships and an extra £6.5 million for the Flexible Skills programme, focusing on sectors linked to green growth.
The Draft Budget prioritises record investments in flood prevention and coal tip safety. This includes an additional £25 million for 2025-26 from the UK Government, complementing the £65 million coal tip safety programme running from 2021 to 2025. The publication coincides with the introduction of a new Coal Tip Safety Bill.
Key highlights of the budget include:
- £88 million in capital funding for city and growth deals.
- £23 million to develop employment sites and property to create new jobs.
- £5.15 million to support Trydan Gwyrdd and local energy plans.
For the first time, Welsh Labour is leveraging collaboration with the UK Government to allocate over £3 billion in capital funding. Every department will see an increase in funding, enabling significant investments in infrastructure and services across Wales.
This marks a shift from the difficult budget decisions of previous years, with an additional £1.5 billion earmarked for public services, aiming to restore growth and resilience.
The funding reflects the First Minister’s priorities, focusing on job creation in sectors addressing climate change, restoring nature, and supporting families.
Specific allocations include:
- £3.7 million to address planning system delays.
- £5 million for Natural Resources Wales to expand land and marine consenting capacity.
- £4.5 million for Green Business Loans to assist SMEs with energy efficiency and decarbonisation projects.
First Minister Eluned Morgan said:
“Welsh businesses are the heartbeat of our economy, and this is a budget for a brighter future, supporting those businesses to thrive and survive.
“It is also an opportunity to build on our outstanding green and renewable energy sector, underpinning our unashamed support of new renewable energy projects to meet our electricity demands.”
Cabinet Secretary for Finance Mark Drakeford added: “This Draft Budget is for a brighter tomorrow. With two Labour governments working together, we can provide long-denied investment to public services, put Wales back on the path to growth, and start to reverse the damage inflicted over the last 14 years.
“It is a budget of hope and growth for Welsh businesses and the green sector. The First Minister’s priorities, those issues which matter most to the people of Wales, are reflected in this funding.”
Business
José Peralta Appointed New CEO of Hybu Cig Cymru – Meat Promotion Wales
AFTER an extensive recruitment process, José Peralta has been named the new Chief Executive of Hybu Cig Cymru – Meat Promotion Wales (HCC), the red meat levy body.
José brings over 25 years of experience in the UK meat industry, having held senior leadership roles across several prominent companies. Notably, he served as Managing Director of the UK’s second-largest red meat business under the ownership of Grampian Country Food Group, Vion, and 2 Sisters Food Group. During his tenure, the organisation achieved annual sales exceeding £500 million, employed over 3,000 staff, and operated six processing plants across the UK, making it a significant seller of Welsh beef and lamb domestically and internationally until 2016.
Following this, José became Managing Director of Tulip Food Company, overseeing eight processing sites and generating over £500 million in annual sales of pork-based products. Most recently, he served as Chief Operating Officer of Pembrokeshire-based Puffin Produce, where he spearheaded initiatives such as the development of the Pembrokeshire Creamery milk bottling plant.
HCC Chair Welcomes New Leadership
Commenting on the appointment, HCC Chair Catherine Smith said: “The Hybu Cig Cymru Board is delighted to welcome José Peralta as our new Chief Executive. His exceptional leadership skills and extensive experience in the red meat industry make him the ideal candidate to guide HCC into its next phase of development within an evolving and dynamic sector.
“This is an exciting time for HCC as we continue to grow and strengthen our renowned brands, PGI Welsh Lamb and Welsh Beef. With the finalisation of our current five-year business plan and the shaping of our strategic vision for 2026 and beyond, our focus is on creating a roadmap that supports the sustainable growth of the industry as a vital part of the Welsh agri-food economy.
“We also extend our heartfelt thanks to Heather Anstey-Myers, who has served as Interim Chief Executive over the past year, for her dedication and hard work.”
Government Endorsement
Huw Irranca-Davies, Deputy First Minister with responsibility for Climate Change and Rural Affairs, praised the appointment: “I am pleased that José Peralta is taking on this important role. His extensive track record in the red meat industry will be invaluable in advancing the organisation and ensuring it delivers the best outcomes for levy payers and the broader agri-food sector. Hybu Cig Cymru plays a crucial role in working with the Welsh Government and stakeholders to secure a sustainable future for farmers across Wales.”
CEO’s Vision for the Future
José Peralta expressed enthusiasm for his new role, stating: “I am honoured to join Hybu Cig Cymru and look forward to collaborating with the HCC team to champion the development and promotion of the Welsh red meat industry on behalf of our levy payers.
“Over the coming weeks and months, I will engage with levy payers and industry partners to identify opportunities for collaboration and partnership, ensuring maximum returns for both levy payers and the wider industry.”
José Peralta is set to assume his position on 20 January 2025.
Business
Ferry update: Holyhead reopens, Pembroke Dock ferry returns to normal
THE PEMBROKE DOCK Ferry Terminal, owned and operated by the Port of Milford Haven, has experienced a surge in activity in recent weeks. This was due to freight traffic being temporarily diverted to ports across the south-west following the closure of Holyhead Port.
The Port of Milford Haven is pleased to confirm that with the re-opening of Holyhead Port tomorrow, normal service will resume at Pembroke Dock Ferry Terminal. Irish Ferries will operate its usual twice-daily sailings to Rosslare, with the Isle of Innisfree scheduled to depart at 2:45am and 2:45pm.
A spokesperson said: “We would like to thank the community of Pembroke Dock for their understanding during this period of increased traffic through the town.”
Freight operators and passengers are encouraged to check the Irish Ferries website for up-to-date timetables and booking information.
Business
How to plan financially without sacrificing your usual activities
Getting on top of your finances can feel daunting, particularly if you have hobbies that you don’t want to sacrifice. The good news is that there are plenty of ways you can save money without having to compromise on your favourite activities.
With that in mind, let’s take a look at a few suggestions that could help you better manage your finances whilst continuing to do the things you enjoy most.
Track your spending
Before making any changes, it’s a good idea to evaluate your current spending. In the age of online banking, regularly checking your bank account couldn’t be easier and doing so can offer you more control over your finances.
Consider going through your current outgoings and finding areas for improvement, such as overspending on groceries or identifying subscriptions you no longer need and cancelling them. You can use tools like budget planners to help track and manage your spending more efficiently.
Use second hand equipment
If your hobbies and interests require equipment, think about purchasing second hand instead of buying brand new. You can use sites such as eBay or Gumtree to find used equipment in good condition. Not only is buying second hand a great way to save money without missing out on the things you need, but it’s also less wasteful and better for the environment!
Make money from your hobby
Plenty of hobbies can be turned into an additional income. If you enjoy creating content online, consider monetising YouTube videos or joining the TikTok creator fund. If your interests involve creating things such as clothes or art, opening a shop on Etsy and selling your pieces is an excellent way to continue pursuing your hobby whilst earning a little extra.
Downsize your hobby
Finally, downsizing your existing hobbies and interests is a great way to reduce the expenses that come with them. If you enjoy exercise, consider working out from home to save money on gym memberships. If you’re learning a new language, utilise free tools and courses.
Alternatively, if gambling is more your scene, think about switching to online gambling. Online gambling sites typically offer more in terms of rewards than traditional brick-and-mortar bookies do. You can utilise sites like AskGamblers who make it easy to find free spin bonuses and sign up offers. Free spins bonuses are a great place to start as a beginner. You can typically use free spins on slot games and still land wins to later withdraw, given you’ve surpassed the wagering requirements.
Saving doesn’t have to be limiting
Cutting back on your spending and saving money doesn’t mean you have to compromise on the things you enjoy. By keeping track of your spending, reducing unnecessary costs, saving on purchases, and even finding ways to make money from the things you enjoy, you can continue to live life to the full whilst improving your finances.
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