Assembly Committee considers borrowing powers and capital funding for Wales

2 February 2012

The National Assembly for Wales’s Finance Committee has opened a public consultation on a new inquiry examining aspects of financing and funding of devolution in Wales.

In particular the Committee will explore the extent to which the Welsh Government could be granted borrowing powers and what lessons could be learned from the experience of local authorities which already have borrowing powers.

The conclusions and recommendations formed by the Committee will help to inform Part One of a report by the Silk Commission which is currently examining devolution in Wales.

“After consulting with the Silk Commission, the Committee has decided to undertake an inquiry examining local authorities’ experiences of prudential borrowing and different models of capital funding which may be suitable for the Welsh Government,” said Chair of the Finance Committee, Jocelyn Davies AM.

“We will be considering the existing models currently in use by local authorities as well as more innovative mechanisms to gain capital funding for infrastructure projects.

“Our findings will be shared with the Silk Commission with a view to helping inform Part 1 of their report on the future of devolution in Wales.”

Anyone wishing to submit evidence to the Finance Committee can do so via email: financecommittee@wales.gov.uk or by writing to: The Clerk to the Finance Committee, National Assembly for Wales, Cardiff Bay, Cardiff, CF99 1NA.