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Written Statement - Progress of the Inter-Governmental Talks on Funding Reform

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Jane Hutt, Minister for Finance and Leader of the House

As announced in July, the Welsh Government, HM Treasury and the Wales Office have started discussions on the Welsh funding issues set out in the Holtham report.

Discussions will include work to gain a shared understanding of:

  • trends in Welsh spending;
  • previous studies which have been carried out on Welsh needs; and
  • the operation of existing borrowing powers.

Once the consideration of spending trends and previous needs studies has been completed, and subject to the agreement of Welsh Ministers and UK Ministers that a problem exists, the next stage will look at options for reform.

These discussions will proceed alongside the work of the Commission on Devolution in Wales, on which the Secretary of State for Wales is expected to make further announcements shortly.