Over the next 15 years the £1.3 billion Swansea Bay city region city deal aims to boost the local economy by £1.8 billion and generate almost 10,000 new jobs, driving growth across the south-west Wales region.

Agreement has been reached with the UK Government that land transaction tax will go live on 1 April 2018. Registration for agents to file returns online will begin shortly. A calculator of LTT is now available on the WRA website and our awareness raising programme continues.

I have raised the issue of replacement funding for structural funds with the Chief Secretary to the Treasury. The UK Government have not yet shared any details of their proposals. Our position of full replacement funding and autonomy is clearly set out in our paper Regional Investment after Brexit.

Progress is being made to progress the deal towards the next phase of delivery. Work is under way to develop the proposed projects into full business cases and to finalise the governance arrangements of the city deal.

The non-domestic rates liability for each property is calculated by taking its rateable value, which is determined by the independent Valuation Office Agency, and multiplying it by the multiplier which is set annually by the Welsh Government in accordance with primary legislation. 

Against a backdrop of continuing cuts to our budget, we continue to face difficult choices and decisions. We need to look at every funding stream. We are working with National Park Authorities to explore ways of diversifying the funding base.

The 'Code of Practice on Ethical Employment in Supply Chains' commits organisations that sign up to consider paying the Living Wage Foundation living wage. Of the 74 organisations that have signed up to the code, five are also living wage employers.