Rebecca Evans MS, Minister for Finance and Trefnydd
The seventh and final report by Welsh Ministers about the implementation and operation of Part 2 (Finance) of the Wales Act 2014 is today laid before the Senedd.
Part 2 of the Wales Act 2014 provides for the devolution of a range of financial powers to Wales, enabling the Senedd to legislate for Welsh taxes on land transactions and disposals to landfill, and to set Welsh Rates of Income Tax. The Act also enables the Welsh Government to propose new Welsh taxes, subject to approval by the Senedd and both Houses of Parliament.
Under section 23 of the Act, Welsh Ministers and the Secretary of State for Wales are required to report every year about the implementation and operation of the provisions under Part 2 of the Act until the first anniversary after the final provisions have been implemented. This report has been written to mark one year since the end of the financial year during which the last of the provisions was introduced, and is therefore the final report required under the Act.