Devolved Taxes

Part of 1. Questions to the Minister for Finance and Trefnydd – in the Senedd at 2:10 pm on 16 October 2019.

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Photo of Rebecca Evans Rebecca Evans Labour 2:10, 16 October 2019

In terms of land transaction tax and the outturn for 2018-19, well that is £12 million lower than Welsh Government's final budget forecast in December of last year. That was £239 million. And a more recent forecast by the Office for Budget Responsibility, published alongside the spring statement in March, had revenues for 2018-19 to be £234 million. The next revenue forecast will be published alongside the Office for Budget Responsibility's work alongside the draft budget in November.

The latest data published by the WRA show LTT revenue between 1 and 31 August 2019 to be £88.5 million. That's 4 per cent down on the same period last year. And I think that it's fair to say that land transaction tax is by its very nature quite a volatile tax, so it's perhaps more difficult to forecast. And, in terms of landfill disposals tax, the OBR forecast for 2019-20 is £41 million. So, that's £2 million lower than the Welsh Government forecast back in December 2018, but, again, as we move towards our goal of zero waste, the amount of money that is received through landfill disposals tax will naturally be declining over time.