Part of 1. Questions to the Cabinet Secretary for Finance – in the Senedd at 2:09 pm on 18 July 2018.
Well, that issue was well rehearsed, Llywydd, during the negotiations over the fiscal framework. The fiscal framework does pass certain risks to Wales. It does in compensation protect us from some other risks, and the form of devolution of income tax that we have—and there are many other models we could have had and others who argue that it should have been taken further—but one of the, I think, positive aspects of it in the short run at least, as we take on these new responsibilities, is that it does mean that we are not as exposed to some of the risks that we otherwise would be exposed to had we come to a different set of agreements in the fiscal framework.