Cynulliad Cenedlaethol Cymru

In mid Wales the Welsh Government supports the food and drink sector via the HELIX programme at Food Centre Wales and AberInnovation to provide technical and innovation support to businesses, accompanied by the Enterprise for Success, Food and Drink Skills Wales and business capital support through the food business accelerator scheme.

Inheritance tax is a reserved tax, and it is the responsibility of the UK Government to undertake assessments of the proposed changes. I have sought assurances that the changes to inheritance tax do not impact on our plans for the future of sustainable farming in Wales.

I would like to thank the Welsh Affairs Committee for its report into farming in Wales and will note its conclusions.

The setting of budgets and council tax levels every year is a matter for local councils. I ask councils to carefully consider the balance between maintaining services and the financial pressures on households, and to engage meaningfully with communities on the decisions they make.

The Welsh Government has a structured framework of audit and assurance processes designed to safeguard public funds and ensure the funds allocated to businesses deliver value for money. These processes involve multiple layers of governance, controls, monitoring and independent scrutiny.

A round-table of independent experts has been brought together to discuss practical improvements to the operation of the Barnett formula. Those improvements are designed to address concerns regarding the legitimacy and fairness of the current system. This work will inform a discussion with finance Ministers from across the UK when we meet in February.

The Wales Fiscal Analysis report highlights the positive budgetary impact of the arrangements introduced in the Welsh Government’s fiscal framework agreement. We continue to make the case for improvements to the way the existing system operates and securing a better, fairer deal for Wales.