Questions Without Notice from Party Spokespeople

Part of 1. Questions to the Cabinet Secretary for Finance – in the Senedd at 1:53 pm on 18 April 2018.

Alert me about debates like this

Photo of Mark Drakeford Mark Drakeford Labour 1:53, 18 April 2018

Well, Llywydd, as I said, we are in the process of evidence collection now. We will look to see how the non-residential property market develops during this year. We will look to see whether there is any evidence that the very small increase in tax turns out to be a decisive factor in very big multimillion pound decisions that companies make. My hypothesis—and it was the one supported in the Bangor report—that a company that is going to be spending many millions of pounds deciding where to locate itself will be interested in things like the price of land, the price of property, both of which are cheaper in Wales than in competitor cities along the border; they will be looking at the supply of skills, and we have a highly skilled population; they will be looking for long-term stability, which we provide here in Wales; and I don't believe that a small amount in a one-off cost on the purchase of the property will be decisive in those people deciding whether to come here or not, but that's my account. There are other accounts. Now, we will have the evidence, and I will take that into account in the decision-making process that we will have every year here as we set tax rates for the future.