Wales Bill put before Parliament

11 Jun 14
The government has published the Wales Bill, confirming the planned devolution of financial powers to the Welsh Assembly.

By Richard Johnstone | 12 June 2014

The government has published the Wales Bill, confirming the planned devolution of financial powers to the Welsh Assembly.

Setting out the legislation, which will devolve stamp duty land tax and landfill tax to Wales along with new borrowing powers for capital expenditure, Welsh Secretary David Jones said yesterday that the Bill would deliver on ambitious proposals to boost growth.

The legislation will implement the recommendations made by the Silk Commission examining the powers of the assembly, most of which were accepted by ministers last year.

It was also announced that the legislation will allow the Treasury to set an aggregate limit on the amount of housing debt that local housing authorities in Wales may hold, with ministers in Cardiff then able to set a limit for each authority within the overall total.

Jones said the Bill represented a major milestone in Welsh devolution.

‘The package of tax and borrowing powers it devolves to Wales should be used by the Welsh Government to grow the Welsh economy, give Wales a competitive edge and help the people of Wales feel more secure about having a better future.

‘Just as important, it will make the Assembly and the Welsh Government more accountable to the people who elect them. For the first time, they will be responsible not only for the money they spend but for raising some of that money as well.’

Chief Secretary to the Treasury Danny Alexander said the package of financial powers, which will also include powers to hold a referendum on whether an element of income tax should be devolved, would also strengthen financial accountability and transparency in Wales.

‘The powers in this Bill will help future Welsh Governments to deliver a stronger economy and a fairer society in Wales.’

 

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