Welsh Governance Report Highlights Need for New Fiscal Framework

The Wales Governance Centre has today published a report analysing the potential budgetary impact of the forthcoming devolution of Stamp Duty and Landfill Tax to Wales.


The report calls for a “de-coupling” of the London and South-East England property market from the calculation of Wales’ eventual budget settlement due to concerns over the impact it could have on the Welsh Government’s budget.


Responding to the report, Shadow Cabinet Secretary for Finance, Nick Ramsay, said:


“Clearly the framework for transferring these taxes needs to be rigorously tested to ensure that the Welsh Government’s budget is not adversely affected during the transitional phase.


"Welsh Conservatives are calling for a new "Fiscal Framework" across the UK to ensure Wales receives its fair share of funding following the devolution of taxation.



“However, the Conservative Government at Westminster has already delivered a historic commitment to Wales by establishing a funding floor, to ensure that the Welsh Government receives its fair share of public spending; something that the Labour Party failed to do in 13 years in office.”