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Autumn Statement predicts Welsh tax

Written By blogger on Tuesday, December 2, 2014 | 11:40 PM

Welsh tax forecasts will be published by the budget watchdog for the first time, as Chancellor George Osborne delivers his Autumn Statement.

The Office for Budget Responsibility (OBR) will estimate income from taxes that will or could be devolved.

These include income tax, stamp duty land tax and landfill tax.

News of up to £78m extra funding for Wales and a boost for £1bn plans for a power-generating tidal lagoon in Swansea Bay has already been announced.

The tax predictions, and what they say about the strength or otherwise of the Welsh economy, are expected to be pored over by politicians as Wales enters the next phase of devolution.

The coalition UK government has been releasing details of the Autumn Statement day-by-day this week in order to maximise its impact.

Tuesday's National Infrastructure Plan included for the first time the proposed tidal lagoon in Swansea but a number of hurdles have to be overcome before that receives the go-ahead.

It comes as Cardiff steel manufacturer Celsa wants Mr Osborne to bring forward financial aid he has pledged for 2016 because, he said, firms need help immediately.


Autumn Statement predicts Welsh tax

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