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Economy needs spending cuts, Welsh Conservatives say Economy needs spending cuts, Welsh Conservatives say
(35 minutes later)
Public spending cuts are needed to keep the economy on a "sure footing", the Welsh Conservatives have said.Public spending cuts are needed to keep the economy on a "sure footing", the Welsh Conservatives have said.
Welsh ministers called plans to ask some UK government departments to prepare for cuts of up to two fifths of their budgets "bad news for Wales".Welsh ministers called plans to ask some UK government departments to prepare for cuts of up to two fifths of their budgets "bad news for Wales".
But shadow Welsh finance minister Nick Ramsay said the cuts were due to Labour's previous economic failings.But shadow Welsh finance minister Nick Ramsay said the cuts were due to Labour's previous economic failings.
Any spending reductions will be reflected in the Welsh government's budget, under a spending formula.Any spending reductions will be reflected in the Welsh government's budget, under a spending formula.
In a written statement on Wednesday, Welsh Finance Minister Jane Hutt described Chancellor George Osborne's launch of his spending review as the next stage in an "unjust and relentless austerity programme".
But Mr Ramsay said: "I accept that the Welsh government have had to make cuts, but that's as a result of the mishandling of the UK economy by the previous Labour government at Westminster.
He added: "These cuts are necessary to keep our economy on a sure footing and also very importantly to restore our fiscal reputation.
"The UK government is protecting spending in key areas such as health and that forms a significant part of the Welsh government's budget."
Mr Osborne will unveil the results of his spending review in November, after asking unprotected departments to draw up two separate models, to plan for cuts of 25% and 40%.