Historic first statement from Finance Committee on tax powers

A ‘first of its kind’ statement in the Senedd chamber today has been welcomed by Plaid Cymru.

The new style statement by the National Assembly’s Finance committee outlined the priorities for the new Assembly term set out the work of the committee in scrutinising the Welsh Government.

Mid and West Assembly Member Simon Thomas, Chair of the Finance committee said:

“This is both an exciting and challenging time for Wales with more financial powers and a new process for securitising the Welsh Government’s budget.

“Two new tax bills – the Land Transaction Tax and Anti-avoidance of devolved taxes (Wales) Bill have been introduced. These tax bills will lead to revenue raising powers for the Welsh Government. This leads to another of the Finance Committee’s key priorities – to consider the changes to the budget process to deal with the new fiscal development and to ensure funding arrangements are suited to Welsh circumstances.

“We hope the Wales Bill will allow us to put our budgetary procedures on a statutory footing with an annual budget bill – which is a further step in the National Assembly’s journey.”

Plaid Cymru’s Carmarthen East and Dinefwr AM, Shadow Cabinet secretary for Business, Economy and Finance, Adam Price added:

“The Party of Wales welcomes this statement as an example of the maturing of our Welsh parliamentary democracy. It also shows how as representatives we are scrutinising the actions of this minority Welsh Government.

“Since the decision to leave the European Union certain unionist politicians of the different political colours have questioned whether the National Assembly will continue in the future.

“Unlike those unionists Plaid Cymru believes together with the majority of the people of Wales our National Assembly is here to stay.

“Our journey to more powers and responsibilities will not be easy but the Finance committee has an important part in strengthening accountability.”