WIREDGOV

The Welsh Assembly Government has welcomed the final report of the Holtham Commission. The report was presented to the First Minister, Deputy First Minister and Minister for Business and Budget by the Holtham Commission.

Publication of the final report fulfils a key One Wales commitment to undertake an independent review of the funding and finance of the devolved Government.

Minister for Business and Budget, Jane Hutt said today:

“I am grateful to the Commissioners for their expert work which I am sure will prove to be of great significance to Wales and create interest across the UK.

“Building on the analysis in the Commission’s previous publications, the report takes forward the arguments for aligning funding with needs and also provides a thorough analysis of the scope for devolution of additional fiscal powers to Wales.

“I welcome both the report’s demonstration of how a needs-based funding regime could be made to work in practice and also how its reassertion of the case for the introduction of a floor in the Barnett formula for Wales, pending further reform.  This is something that commands support across the Assembly and the Assembly Government will continue to press the UK Government to implement a floor in the forthcoming spending review.”

The Minister concluded by saying that Holtham Commission’s recommendations for the devolution of tax-varying powers will require detailed consideration.