Mark Drakeford MS, Cabinet Secretary for Finance and Welsh Language
Today, I am publishing the Welsh Government’s Outline Draft Budget for 2026-27. This sets out the financing plans, our decisions on taxation and borrowing, as well our strategic spending plans for resource and capital at Main Expenditure Group (MEG) Level.
The 2026-27 Budget invests over £27bn in Wales - £22.3bn of resource funding, £3.6bn of capital funding and £1.2m of non-domestic rates funding to local government. This is more than £800m of additional funding to Welsh Government departments than was allocated in the 2025-26 Final Budget.
I will make an oral statement with further details in Senedd later today and will publish the Detailed Draft Budget on 3 November, setting out our spending plans at Budget Expenditure Level (BEL).
The Outline Draft Budget Documents published today are all available on the Welsh Government website.
- Draft Budget proposals
- Outline Draft Budget Report 2026-27
- Tables supporting spending plans (ODS format)
- Draft Budget Explainer 2026-27
The following supporting documents are also being published today:
- Wales Economic and Fiscal Report 2025
- Wales Economic and Fiscal Report 2025 – Five Essential Insights
- Budget Improvement Plan 2025
- Tax Policy Report: October 2025
- The Budget Improvement Plan
- Office for Budget Responsibility’s Welsh Taxes Outlook