Part of the debate – in the Senedd at 3:29 pm on 7 February 2023.
Diolch, Llywydd. There can be no doubt that the Welsh Government lacks the money it needs to do what is necessary to build the kind of decent society that we want to see. That is more true now than it has ever been, I think. Ultimately, that lack of money stems from our lack of power. We lack the powers necessary to grow our economy in Wales, which is one absolutely critical way by which we can generate the revenue necessary to create that kind of society. We also lack the financial powers to control our own fiscal policy—the borrowing powers, the tax-varying powers—to enable us to raise the resources we need, and to do so fairly. Our debate tomorrow, for example, is about giving Wales the power to set the income tax bands and thresholds so we can have the flexibility that Scotland currently enjoys. Our solution to this dilemma, of course, ultimately, and as soon as we can, is to become an independent nation, so we have all of the tools and levers available to us to create that society we want to see. But that is not currently our position.