Government to consult on devolution of Stamp Duty Land Tax to the National Assembly for Wales
The Government will consult on the proposed devolution of Stamp Duty Land Tax (SDLT) to the National Assembly for Wales, Chief Secretary to the Treasury Danny Alexander told Parliament today.
The devolution of Stamp Duty Land Tax
Following the report by the Commission on Devolution in Wales (Silk Commission), the Government has decided to consult, particularly with the business community, given the populous nature of the border between Wales and England and the potential implications for the construction industry and housing market.
This will further inform the Government’s response to the Commission’s report on increasing the financial accountability of the Assembly and Welsh Government.
Chief Secretary to the Treasury, Danny Alexander, said:
This is an important final step to enable us to respond to the Silk Commission’s recommendations. There is a very strong case for devolving fiscal and economic levers to the Welsh Government, but it is right that we fully understand the potential impacts so that we can ensure that the decisions we take are right for Wales and for the UK as a whole”.
Secretary of State for Wales, Rt Hon David Jones, said:
The recommendations made by the Silk Commission in Part I of its work have extensive implications not only for Wales, but for the whole of the UK, so it is essential that we give full consideration to all of its implications.
All interested parties should take this opportunity to express their views in this short consultation on the potential consequences of devolving SDLT, to help fully inform the Government’s response to the Commission’s first report.
Notes for Editors
1.The independent Commission on Devolution in Wales (The Silk Commission) has been established to review the present financial and constitutional arrangements in Wales. It will carry out its work in two parts:
*Part I: financial accountability - To review the case for the devolution of fiscal powers to the National Assembly for Wales and to recommend a package of powers that would improve the financial accountability of the Assembly. The Commission reported its findings on Part I on 19 November 2012.
*Part II: powers of the National Assembly for Wales - To review the powers of the National Assembly for Wales in the light of experience and to recommend modifications to the present constitutional arrangements that would enable the United Kingdom Parliament and the National Assembly for Wales to better serve the people of Wales. The Commission will report its findings on Part II by the Spring of 2014.
