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<p>Work is the best route out of poverty. Since 2010 there are 667,000 fewer children
living in workless households – a near record low. Employment is at a record high,
unemployment is at its lowest rate since the 1970s, and wages have outstripped inflation
for a year.</p><p> </p><p>As a result of UK Government decisions at Budget, the Welsh
Government benefited from a £550 million funding boost. This includes over £25 million
resulting from a 5% uplift in Barnett consequentials as agreed in the Welsh Government’s
Fiscal Framework. It is for the Welsh Government to decide how to spend this funding
according to its priorities.</p>
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