On Wednesday billions of investment in trains, trams and bus schemes in England were announced by Chancellor Rachel Reeves.
Skates told the Senedd on Tuesday that it was “the equivalent, for England, of our local transport grants”.
Speaking to BBC Wales on Wednesday, Eluned Morgan said that the announcement will likely trigger extra spending through the formula that funds Welsh public services.
“There is likely to be consequential money as a result of the announcement today,” she said.
Asked how much it might amount to, she added: “I don’t know the detail of that.”
Morgan made the comment at a photo-opportunity with Angela Rayner at a Welsh cake shop in Cardiff, held to promote April’s rise in the minimum wage.
Rayner did not give interviews to the press gathered there, turning down a request from BBC Wales as she left.
Rayner was in Cardiff meeting Welsh ministers on Wednesday.
Plaid Cymru’s Peredur Owen Griffiths said Wales was “forgotten” in Wednesday’s announcement and said any consequential funding “will be worlds away from making up for the billions of pounds we’ve been deprived of over the years”.
“Their supposed “partnership in power” serves no purpose and the people of Wales deserves better,” he said.
Welsh Conservatives Sam Rowlands said: “Labour promised we’d have two governments working for the people of Wales at both ends of the M4, but time and time again, Labour fail to stand up for the people of Wales.
“Whatever funding Rachel Reeves sends Wales’ way must be allocated directly to Network Rail, and not risk squandered under the watch of Welsh Labour.”
