Budget 2014: What does it mean for Wales?

Chancellor George Osborne confirms the Wales Bill relating to tax and borrowing powers for the Welsh Government will be published tomorrow.

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  1. Adrian Masters

Budget heralds powers change for Wales

Tucked away amongst the announcements made by the Chancellor in his budget today there was the news that he'll publish details of tax and borrowing powers for the Welsh Government tomorrow (Thursday.)

This will come when the Wales Bill is introduced to Parliament. It's been heavily discussed in its draft form and has sparked some rows between - and within - political parties.

Despite all those arguments, I wouldn't expect too much change from draft to published bill. Here's a reminder of what changes it would introduce:

  • Provide for a referendum on devolving partial control of income tax
  • If income tax is devolved, allow the Welsh Government to set rates
  • Devolve control of Stamp Duty Land Tax
  • Devolve control of Landfill Tax
  • Allow the Welsh Government to borrow money for major projects (specifically improving the M4)
  • Fix Assembly terms at 5 years instead of the current 4
  • Allow candidates to stand in constituency and regional list votes
  • End 'double jobbing' so that AMs can't also sit as MPs and vice versa

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