Written Statement - UK Government's initial response to the Silk Commission's report on financial reform for Wales

I am pleased that the UK Government has today issued an initial response to the first report by the Commission on Devolution in Wales (the 'Silk Commission'). I attach a copy of the Written Statement from the Secretary of State for Wales, laid in Parliament earlier today.

The Written Statement confirms that the UK Government will be responding positively to the recommendations for financial reform that were proposed by the Commission, backed by the Welsh Government and all Parties in the National Assembly. The UK Government’s reforms will also enable the Welsh Government to borrow to fund infrastructure investment.

I will provide further information in an Oral Statement to the Assembly at the earliest opportunity.