Powers of Taxation

Part of 1. Questions to the Cabinet Secretary for Finance – in the Senedd at 2:17 pm on 6 December 2017.

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Photo of Mark Drakeford Mark Drakeford Labour 2:17, 6 December 2017

Well, I thank John Griffiths for that. The Rowntree figures, Llywydd, are authentically shocking in showing that the burden of austerity in our country is being carried by those least able to bear it, including—and I think it is genuinely shocking—the number of children in Wales and the United Kingdom who will find themselves living in poverty in the future as a direct result of those policies. That conclusion is not just the conclusion of the Rowntree foundation, it's borne out by Resolution Foundation, by the Institute for Fiscal Studies and by others in the way that John Griffiths said. 

More equal societies bring with them a huge number of advantages. They enjoy better health, they have less crime, they have less fear of crime and maybe most importantly of all—and this is why the International Monetary Fund and the World Bank both, these days, publish documents calling for more equal societies—they do better economically as well. That's why the Well-being of Future Generations (Wales) Act 2015 has the creation of a more equal Wales at its heart. We took a very modest step on that road this year with the way in which we are using our land transaction tax possibilities. Both can make getting on the property ladder easier in Wales for people on modest incomes and to support businesses at the small and medium-sized end of the spectrum. It was a small but symbolically important step and I'm very glad that we were able to take it.