6. Welsh Conservatives Debate: Land transaction tax on commercial land

Part of the debate – in the Senedd at 5:09 pm on 9 May 2018.

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Photo of Mr Simon Thomas Mr Simon Thomas Plaid Cymru 5:09, 9 May 2018

(Translated)

Thank you very much, Deputy Presiding Officer. I move amendments 2 and 3 in the name of Plaid Cymru. And, just for the sake of clarity, although I am Chair of the Finance Committee, I’m speaking today on behalf of Plaid Cymru in the absence of another Plaid Cymru member of the committee, namely Steffan Lewis.

I’m pleased to contribute on this issue, and I’m pleased that we are having a discussion on the first devolved tax. This is the first debate on the first tax—we are doing things anew. And we have a Member speaking on behalf of the Conservative Party for the first time who is not a member of the Conservative Party, so that’s a first, too. I’m not quite sure how comfortable that is for his fellow members, looking at their faces, however, he has opened the debate.

Plaid Cymru doesn’t agree—. Well let’s put it in these terms: we’re not of the same view as Mark Reckless on this motion. I think it’s important that we see whether the differentials in taxation between Wales and England—which have been outlined and have been approved, as the Labour Party’s amendment states, with unanimous support in this Parliament—is going to work. Because, although there is a higher rate for properties over £1 million, there is a lower rate, or no rate at all, in fact, for some categories of commercial property in Wales. We must at least see if this policy will work over a period of 12 months, whether it will encourage development in the foundational economy—which is something that Plaid Cymru has been seeking—and, indeed, whether it is going to lead to interesting developments, particularly in our town centres.

I see that another member of the Finance Committee wants to intervene.