New Devolved Taxes

Part of 1. Questions to the Cabinet Secretary for Finance – in the Senedd at 1:41 pm on 18 April 2018.

Alert me about debates like this

Photo of Mark Drakeford Mark Drakeford Labour 1:41, 18 April 2018

Well, Llywydd, we will now be in the business of collecting evidence rather than trading speculations. This National Assembly has made the decision on the levels of taxation in non-domestic property for this financial year. Ninety per cent of commercial transactions in Wales will enjoy the lowest rate of taxation anywhere in the United Kingdom, because 90 per cent of commercial transactions happen at the level of £1.1 million or below, and we have the lowest tax rates for that part of our economy of any part of the United Kingdom. I've heard the case made by Mr Reckless and by those who make it. I've met with those companies and individuals myself. My officials have met with them subsequently. The analysis by Bangor as part of our preparations did not suggest that those would be the outcomes, but I will look very carefully at the evidence, and if the evidence suggests that the outcomes that are suggested in that article are something that ought to concern this National Assembly, then, of course, I will take that into account in decisions that will be made for future years.