Thank you very much, Deputy Presiding Officer. Last Friday, I agreed with the Chief Secretary to the Treasury that enough preparatory work had been done to enable the UK Government to arrange that stamp duty land tax and landfill tax will no longer be operational in Wales at the end of next March. That will allow us to introduce the first Welsh devolved taxes for centuries. The Treasury will now lay the necessary Orders.

Therefore, the regulations before the Assembly this afternoon try to create the situation that Welsh taxpayers will face from this April onwards. I would like to put on record my thanks to the Finance Committee and the Constitutional and Legislative Affairs Committee for their work in considering the regulations. Under this item on the agenda, I will be introducing two sets of regulations for land transaction tax.