Mark Williams, Member of Parliament for Ceredigion and Leader of the Welsh Liberal Democrats, has responded to today’s statement from the Secretary of State for Wales, Alun Cairns, about a new funding settlement for Wales.
The Liberal Democrats have long called for further devolution of powers to Wales, and were instrumental in securing the Silk Commission.
This agreement enables the Welsh Government to have more control over its own funding and tax affairs, while improving the flawed Barnett Formula which calculates the grant Wales receives from the UK Government based on overall UK spending.
Mark said “I am glad that an agreement has finally been reached between the UK and Welsh Government on Wales’ Fiscal Framework. In particular I welcome the creation of a new needs-based factor within the Barnett Formula and the increase in the Welsh Government’s capital borrowing limit to £1 billion, enabling the Welsh Government to begin using their new tax powers.
“These changes have been long overdue, giving greatly needed powers to the Welsh Government to deal with issues specific to Wales. This is not only a positive step for devolution, but will help make the Welsh Government far more accountable to the people of Wales.”