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Written Statement - Independent Scrutiny of Devolved Tax Revenue Forecasts

Mark Drakeford, Cabinet Secretary for Finance and Local Government

As part of the fiscal framework the Welsh Government committed to putting in place arrangements for the independent scrutiny of the Welsh Government’s devolved tax revenue forecasts for inclusion in the 2018-19 Budget. I am pleased to update Assembly Members about those arrangements.

Following a competitive procurement exercise, a team from the Business School at Bangor University has been appointed to undertake this work.

The aims of the contract are:

  • The provision of independent scrutiny and assurance about the Welsh Government’s forecasts for devolved taxes – land transaction tax, landfill disposals tax and non-domestic rates – for inclusion in the Welsh Government’s budget for 2018-19
  • Advice about improving methodologies for future years’ forecasts.

A report outlining the assessment of these aims will be published alongside the Welsh Government’s draft Budget.

I will update Assembly Members about the arrangements for future years in due course.