Welsh Government
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Independent funding commission starts work with call for evidence
Joining the Chair of the Commission, Gerald Holtham, are:
- Professor David Miles, a Managing Director and Chief UK Economist at Morgan Stanley and Visiting Professor at Imperial College, London
- Professor Paul Bernd Spahn, Professor Emeritus at Goethe University, Frankfurt am Main, Germany
The First Minister commented:
Wales is very fortunate in securing two such outstanding persons to join the already appointed Chair, Gerry Holtham, to make up the Independent Commission on Funding and Finance. David Miles, originally from Swansea, has had a hugely successful career in academia and in finance, while Bernd Spahn has a long and distinguished career advising Governments across the world on fiscal matters.
Deputy First Minister Ieuan Wyn Jones added:
The current world financial situation underlines the necessity of receiving the very best advice and David and Bernd, together with Gerry, will make a formidable team with the skills and experience to serve the Assembly Government well.
Finance Minister Andrew Davies commented:
After almost a decade of devolution it is right to review the Assembly’s funding arrangements and to consider the scope for changes to our fiscal powers. The Commissioners have been set an important task and I look forward to their interim report next summer.
Chair of the Independent Commission, Gerry Holtham, warmly welcomed the appointments and was keen to get to grips with the tasks facing the Commission.
He stated:
I am delighted to be joined on the Commission by Bernd and David. We have a challenging programme of work before us in order to deliver our first report to the Assembly next summer, so it’s good to get started today.
One of our early priorities is to issue a 'Call for Evidence' to anyone who would wish to contribute to the Commission's deliberations on the Barnett formula, tax varying and borrowing powers. I would ask anyone with views or evidence on these issues to get in touch with the Commission - further information is available on our website at: www.walesfundingreview.org.
