Diolch, Llywydd. Today, I'm pleased to present the Welsh Tax Acts etc. (Power to Modify) Bill to the Senedd for approval. I'd like to begin by putting on record my thanks to all the officials who've worked so diligently over many years on this Bill. As we know, tax is an important and growing area of the devolution settlement. As a Welsh Government, we need, like every executive, a proportionate and effective suite of tools to manage those tax powers strategically and, crucially, to effectively protect taxpayers and the public finances. This Senedd, like every parliament, needs strong and robust oversight of those tools. The Bill ensures this because the changes can only be made or have permanent effect with the Senedd's consent after due consideration is given. This legislation is an important first step along the road to the coherent and transparent system we need to support tax devolution in Wales.

I'd like to thank all of those within the Senedd and beyond who have helped to shape and improve the Bill before Members today. We have listened and amended the Bill substantially to respond to the feedback that there's been to the Bill. At all times, I have tried to understand and reflect on the points made by opposition Members and particularly what our scrutiny committees have said when they have looked at the Bill. The results of those discussions have tangibly changed the Bill in a positive way.

The Bill seeks to ensure Welsh Ministers can respond at pace to changes that need to be made to our tax legislation as a result of external circumstances that we cannot control, such as responding to UK Government tax policy changes in order to ensure that we protect our Welsh revenues. The amendments made to this Bill have been substantial, including the provision of a sunset clause and review process, in addition to further restrictions on the use of retrospective legislation. The changes made mean this Bill is now very different to the one that was first introduced into the Senedd and a better one for that scrutiny.

It's also worth reflecting that I have moved considerably since setting out the original proposal for this legislation. I responded to the outcome of the consultation by restricting the scope of the regulation-making power to include the four purpose tests, a significant reduction in the circumstances where the Welsh Ministers could use the power. Importantly, I've also heard the points made by Members of this Senedd and committed to taking steps, together with the Senedd and its committees, towards finding an appropriate, longer term legislative solution to the issues that Members have raised, but, crucially, ensuring that taxpayers and our budget are protected in the meantime.

It's simply not possible, and nor would it be right, to bring in these arrangements overnight without undertaking the thorough policy development and engagement needed. Passing this Bill will help protect taxpayers and the Welsh budget. It will mean for the next few years the Welsh budget and our taxpayers will not be left exposed because we will be able to respond effectively to external circumstances that impact on our Welsh taxes. To provide an example, if the UK Government introduces a new charging regime similar to the stamp duty land tax higher rates for additional dwellings, then, with this Bill, we can protect the important policy positions that we have developed on second homes. Or, if the UK Government, for example, introduced a change that particularly benefited those seeking to establish new farming businesses, then we could bring in a similar type of change at pace to ensure that our taxpayers are not disadvantaged.

We all know that the current UK Government is no friend of devolution. It's clear from recent days that significant changes to our tax system are on the way, and we know from past experience that the UK Government will not allow us any special favours or special consideration if we do not have the powers to protect ourselves. This Bill will afford us another essential protection for Welsh taxpayers and Welsh public services in such a context, so I cannot accept the argument that there is anything progressive in choosing to vote against this legislation today.

I hope that you can see the good faith with which we have developed this Bill. If passed, I want to work in that same spirit with Senedd Members to establish the long-term architecture for making changes to the Welsh tax Acts, and I ask Members to vote for this motion today. Diolch.