What to watch out for in Welsh politics and the Senedd in 2025

Chancellor Rachel Reeves will publish a review of UK government spending in late spring, setting limits on daily public spending for the next three years and on major projects for five years.

This will impact on the UK Government’s direct spending in Wales and the amount of money available to the Welsh Government.

We could be making a decision on what has become not just a financial problem but also a totemic one: Wales’ share of the HS2 high-speed rail line.

Prime Minister Sir Keir Starmer confirmed during a recent visit to Airbus in Broughton that it is an England and Wales project, meaning the Welsh Government will not receive any follow-on funding.

There is cross-party Senedd support for Wales to get its share.

Plaid Cymru has suggested that HS2 funding for Wales would have to be part of any bid by the Welsh Government for a budget deal.

Foreign Secretary says Sir Keir is fed up with her asking for HS2 cash.

If there is no follow-on funding, what other rail investments could there be for Wales instead?

And will it be enough to satisfy both demand and critics? Plaid Cymru is demanding billions for HS2 – figures previously used by Labor – while Welsh ministers say the figure is around £350 million to reflect the high-speed line built so far.