Oral Answers to Questions

Debate between Ben Lake and Mims Davies

Wednesday 24th October 2018 Commons Chamber

[Ben Lake (Ceredigion) (PC)]

4. What assessment he has made of the implications for public authorities in Wales of the Treasury’s draft valuation directions for non-funded pension schemes.

[The Parliamentary Under-Secretary of State for Wales (Mims Davies)]

The valuations indicate that the amount employers pay towards the schemes will need to increase, and details will be finalised when the valuations are completed early next year. Treasury has committed to support the Welsh Government with additional funding in accordance with the statement of funding policy.

[Ben Lake]

The 2016 actuarial valuations will have an unprecedented impact on the constrained resources of local authorities, teaching institutions, the fire service and police forces in Wales if UK Government funding is not forthcoming. Will the Minister confirm that this funding will be forthcoming from the Treasury to the Welsh Government?

[Mims Davies]

The hon. Gentleman raises this concern on behalf of his constituents, and it is correct that some increases in costs were predicted in the 2016 Budget. We will of course apply the principles set out in the statement of funding policy in determining any additional funding for the devolved Administration, and continue to do what is right for Wales.