The National Assembly for Wales' Finance Committee today announced it is undertaking an inquiry into Future Funding for Wales.
The arguments around fair funding for Wales have been identified in the reports of the Holtham Commission in 2010 and Silk Commission (Part 1) in 2012 and there have been more recent developments across the UK which could impact on the Welsh devolution settlement.
To assist with its inquiry, the Committee is seeking views on:
What are the main weaknesses in the current financial settlement for Wales?
- How could these weaknesses be resolved?
- How will upcoming changes in relation to:
- a reserved-powers model for Wales, and the St David's Day devolution proposals,
- Smith Commission recommendations,
Impact on future funding arrangements of the Welsh Government
- What financial and economic information is needed by the UK and Welsh Governments to provide support for future funding arrangements?
- Are there any issues the Committee should be aware of in relation to developments on the issues of convergence, underfunding and Barnett reform?
- How could a future UK Government incorporate a needs-based approach to devolved funding?
- Should the financial devolution settlements of Wales and the other devolved administrations be agreed in a co-ordinated way or as a set of bilateral agreements?
- What principles should be adopted to guide the devolution of further fiscal powers which ensure fairness and flexibility?
Jocelyn Davies AM Chair of Finance Committee said:
"Recent developments across the UK could have an impact on the Welsh devolution settlement and the funding that Wales receives.
"We are keen to hear views on such important topics such as what financial and economic information is needed by the UK and Welsh Governments to provide support for future funding arrangements and also whether the financial devolution settlements of Wales and the other devolved administrations should be agreed in a co-ordinated way.
"The Committee welcomes responses in Welsh or English from both individuals and organisations and will hold oral evidence sessions in due course."