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Written Statement - First meeting of the Joint Exchequer Committee

Jane Hutt, Minister for Finance and Government Business

This morning I chaired the inaugural meeting of the Joint Exchequer Committee (JEC), which has been established to oversee the transfer to Wales of the new financial powers included in the Wales Bill, and other financial reforms agreed by the UK Government in response to the first report by the Silk Commission.

The UK Government was represented at the meeting by the Rt Hon Danny Alexander MP, Chief Secretary to the Treasury, the Rt Hon Stephen Crabb MP, Secretary of State for Wales, and David Gauke MP, Financial Secretary to the Treasury.

We discussed the progress of the Wales Bill, the process by which the Welsh Government may gain the power to issue bonds, and the full devolution of non-domestic rates.