Communiqué from the Finance: Interministerial Standing Committee - 27 February 2025
Published 27 February 2025
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The Cabinet Secretary for Finance and Welsh Language, the Rt Hon Mark Drakeford MS (Welsh Government), chaired a meeting of the Finance: Interministerial Standing Committee (F:ISC) in Cardiff on 27 February.
The meeting was attended by the Rt Hon Darren Jones MP, Chief Secretary to the Treasury (UK Government), Cabinet Secretary for Finance and Local Government, Shona Robison MSP (Scottish Government) and John O’Dowd MLA, Minister of Finance (Northern Ireland Executive).
All ministers appreciated the opportunity to discuss economic and fiscal challenges, focusing on their shared ambitions in respect of driving economic growth.
Ministers shared their priorities as part of the second phase of the UK Spending Review and the upcoming UK Spring Statement on 26 March 2025. All four ministers agreed on the importance of continued collaboration on priorities such as local growth funding and budget flexibility, which are key to driving economic growth and ensuring resources are maximised.
Each of the devolved governments’ Finance Ministers provided updates on their draft budgets for 2025-26.
Ministers noted that the next meeting of the F:ISC would take place in the spring, to be chaired by the UK Government.