Barnett Floor (Wales)
Debate between Jonathan Lord and Alun Cairns(9 years, 1 month ago)
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Alun Cairns
My hon. Friend makes an important point. I can hardly speak to business people or people who travel the border regularly without their complaining about the delays around Newport. We urge the Welsh Government to take the strongest action possible to complete the job of bridging the M4 around the south of Newport.
A new prison is being built in Wrexham, in a £212 million project supporting over 1,000 jobs. Through tax devolution we are empowering the Welsh Government with further levers to support and encourage the growth of the Welsh economy. Business rates have now been fully devolved, something I hope Opposition Members will acknowledge. Stamp duty and landfill tax will be devolved in 2018, as has already been committed to.
We would like progress on the devolution of a portion of income tax, as specified in the Wales Act 2014. Tax devolution will make the Welsh Government responsible for raising more of the money that they spend. Excluding Welsh rates of income tax, the Assembly will be responsible for approximately 10% of all taxes collected in Wales. The introduction of the Welsh rate of income tax would make the Assembly responsible for twice as much, or approximately another £2 billion in revenue. The Government will implement the commitments of the St David’s day Command Paper to build a stronger, clearer and fairer devolution settlement for Wales.
Jonathan Lord
I welcome everything the Minister is saying, but, to return to the Barnett floor, may I ask for an assurance that English taxpayers will not be disadvantaged by any adjustments or Barnett floor, and that any money to accommodate a Barnett floor will come from countries that get more than their fair share on a needs basis?
Alun Cairns
The specifics on that point will be outlined in the comprehensive spending review by my right hon. Friend the Chancellor.