The Chief Secretary to the Treasury has repeated his commitment to giving the Welsh Government powers to borrow money for major construction projects. Danny Alexander made his comments as he met Paul Silk, who's report recommended both borrowing and tax-raising powers should be transferred to Wales.
While the Treasury will need to consider this report very carefully, as I said in October I am committed to giving Wales new borrowing powers provided the Welsh Government takes financial responsibility through revenue raising powers. I think that the level of ambition in the Silk Commission recommendations is a very encouraging sign.
The Silk Commission recommends that the Welsh Government should be able to vary income tax rates here in Wales.
The Silk Commission's first report is published today. It's expected to recommend the Welsh Government should have control of some taxes.