Guided by our priorities, we will work to make every pound of the Welsh budget count and deliver the best possible returns from public spending. This means ensuring that public money is spent efficiently, and used effectively to improve public services, rather than repeatedly diagnosing problems that then are never fixed.
Within the first 100 days of a Plaid Cymru government, we will begin to realign Welsh Government spending with our priorities as part of the process for preparing our first budget.
We know that Wales is being held back by underfunding from Westminster, and we will fight to secure real economic fairness to invest in our communities and public services.
We are committed to:
- Wales receiving what it is owed from HS2 and other England-only rail projects, so that we can invest in an integrated transport system that works for Wales.
- Replacing the outdated and unfair Barnett formula, ensuring that Wales receives its fair share of public investment.
- Greater tax powers, so that we can build a tax system that works for Wales, including the ability to set income tax bands, so that we can make income tax fairer and more progressive. A Vacant Land Tax would encourage more vacant land to be brought back into residential and business use.
- Further reforms to the fiscal framework, including raising annual draw-down limits on the Welsh Reserve on a par with Scotland, and increasing the Senedd’s total capital debt limit from £1bn to £3bn – as immediate first steps toward securing full prudential borrowing powers for Wales.
We will also explore new and innovative forms of financing, including:
- Working with the Wales Pension Partnership – which pools local authority pension funds and, as of 2025, controls £25bn in assets – to develop a new approach to investing both ethically and locally, including in social housing and Welsh businesses.
- A Wales Wealth Fund, capturing a fair share of profits from Welsh renewables to invest in community-led projects in areas like housing and energy.