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Treasury plan expected in Welsh government programme Treasury plans in Welsh government programme
(about 11 hours later)
Plans to set up a Welsh treasury are expected to be included in the Welsh government's law-making programme for the next year. Plans to set up a Welsh treasury are included in the Welsh government's law-making programme for the next year.
It will be the last full legislative programme before the next Assembly elections in 2016. A Welsh treasury will administer the new tax and borrowing powers which are in the process of being devolved, First Minister Carwyn Jones told AMs.
It will be set out later on Tuesday by First Minister Carwyn Jones. He said the bill setting up the treasury would be historic, as it will be the first tax law assembly members have considered.
A Welsh treasury will be used to administer the new tax and borrowing powers which are in the process of being devolved.
The taxes include control over stamp duty and landfill tax.The taxes include control over stamp duty and landfill tax.
Finance Minister Jane Hutt said the Welsh government is unlikely to start collecting taxes before 2018. Mr Jones said the last full legislative programme before the next assembly elections in 2016 would "make Wales an even better place in which to work and live".
Prime Minister David Cameron has said the new borrowing powers would help the Welsh government make improvements to the M4 which is a "foot in the windpipe of the Welsh economy". Plaid Cymru leader Leanne Wood welcomed the creation of a treasury, and with it "extra economic levers needed for job creation".
But she argued the powers that were coming to Wales were limited and would not lead to a "government that is properly accountable".
Finance Minister Jane Hutt has said the Welsh government is unlikely to start collecting taxes before 2018.
Prime Minister David Cameron has said the new borrowing powers would help the Welsh government make improvements to the M4 which is a "foot on the windpipe of the Welsh economy".
The legislative programme will also include:The legislative programme will also include:
Among the laws passed so far by the current Welsh government include one introducing a system of presumed consent on organ donation, one standardising the eligibility for social services and one that allows health boards to plan their finances over a three year period.Among the laws passed so far by the current Welsh government include one introducing a system of presumed consent on organ donation, one standardising the eligibility for social services and one that allows health boards to plan their finances over a three year period.