Mark Drakeford, Cabinet Secretary for Finance and Local Government
Our First Supplementary Budget which was approved on 12 July made a limited number of allocations from our reserves. After a review of our financial position I am able to confirm the first further transfer from those reserves.
I will allocate an additional £68.4m revenue to the Health, Wellbeing and Sport portfolio. This funding will address the overspends being forecast by Betsi Cadwaladr and Hywel Dda University Health Boards in the current financial year.
The funding will be retained within the Health, Wellbeing and Sport MEG to offset the forecast deficits within these organisations. Both organisations are being managed through the Welsh Government’s escalation and intervention framework, and are expected to deliver to their agreed operational plans.