6. Debate: Welsh Rates of Income Tax 2020-2021

Part of the debate – in the Senedd at 4:14 pm on 3 March 2020.

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Photo of Rebecca Evans Rebecca Evans Labour 4:14, 3 March 2020

I'm sure that, in future, there'll be a great deal of debate regarding Welsh rates of income tax, because of course whilst it was a pledge not to raise income tax during the course of this Assembly, it'll certainly be a matter of particular interest, I think, as we go to the electorate for the next Assembly elections, in terms of determining what our respective parties' offer might be to the people of Wales.

The point was raised again how important it is that we work to grow the Welsh tax base. Of course, that's not just a matter for the finance Minister, actually; it's something for us right across Government. So, there's important work to be done in housing, in skills, and in other areas of Government to ensure that we do grow that tax base across Wales.

And also, it's important as well to recognise the important work that we do on forecasting. I know this has been a matter of interest to the Finance Committee. The Office for Budget Responsibility has been undertaking some work, and the forecast published alongside our final budget, which sets the rates at 10p for all bands, is expected to raise £2.2 billion in 2020-21. And of course, we have the final outturn figures coming forward then in future years, and any reconciliation payments would then be made. So, this is just the start of the very exciting journey, and I'd be grateful for Members' support for these regulations today.