Jane Hutt says the Welsh Government is looking forward to making use of the first tax-raising powers Wales has had for 800 years.
The Business Secretary and Vale of Glamorgan AM said at the National Assembly that the Government’s next draft budget will implement a different type of budget-making in Wales.
She said it will not only set out the Government’s spending plans, but also how some of those finances will be raised, using both new tax powers — the first for 800 years — and new powers to borrow.
Ms Hutt said: “These are fundamental changes to the fiscal framework in Wales, and it’s right that we have a process that continues to provide robust scrutiny of the Government’s spending plans and now also its financing plans.
“We look forward to putting this new process into practice in the autumn.
“As we move forward, as we bed our new tax-raising and borrowing powers, our budget will evolve.
“Changes to standing orders and the budget protocol provide flexibility to ensure that the scrutiny of the budget continues to be meaningful, proportionate and robust.”
Ms Hutt said Finance Secretary Mark Drakeford is keen to continue working with the Finance Committee as these new arrangements are established.
Report by Michael Prosser