Can Tax Devolution Deliver For Wales?
Cardiff University’s Wales Governance Centre will today (Friday August 5th) host a discussion at the National Eisteddfod of Wales exploring the challenges and opportunities of tax devolution for Wales.
Chaired by Professor Richard Wyn Jones of Cardiff University’s Wales Governance Centre, the session will feature a presentation by researcher Guto Ifan outlining the forthcoming devolution of taxes set to change Welsh funding.
The presentation will consider some of the potential problems and dangers facing the Welsh Budget, exploring some of the issues and points of contention ahead of the crucial ‘fiscal framework’ negotiations between the Welsh Government and HM Treasury this autumn.
The presentation will also address developments such as Brexit and how any subsequent constitutional change may impact the course of tax devolution to Wales.
Professor Richard Wyn Jones said: “In the context of a likely squeeze in public spending in Wales following Brexit, ensuring fair treatment in the devolution of taxes to Wales is even more critical.
“The work of the Wales Governance Centre at Cardiff University shows the size of the challenge we face. It is vital that politicians and the Welsh public act now to ensure we do not lose out.”
Guto Ifan, also of the Wales Governance Centre added: “Tax devolution will greatly impact Welsh public finances, and has the potential to invigorate Welsh politics and the Welsh economy.
“However, the ultimate impact of tax devolution on the Welsh Budget will depend on how Wales’ Block Grant is adjusted after devolution.
“There are potentially hundreds of millions of pounds at stake, and introducing a system of tax devolution that disadvantages Wales could have significant consequences for the funding of our public services.”
The event will take place on Friday 5th August from 12.00pm – 1.00pm at Societies 1.
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