14 Rhagfyr 2022 , Finance Committee
Craffu ar Gyllideb Ddrafft Llywodraeth Cymru ar gyfer 2023-24: Sesiwn dystiolaeth 1
And it's the balance then between progressive and non-progressive taxation and relief and we see that in council tax; we see that in business rates, potentially, where we probably need a better way of progressively working through these things. But we'd…
14 Rhagfyr 2022 , Finance Committee
Craffu ar Gyllideb Ddrafft Llywodraeth Cymru ar gyfer 2023-24: Sesiwn dystiolaeth 1
I think that would be useful, if you could, because it seems from colleagues here that if it's a one-size-fits-all type of system, which it seems to be, it's how sophisticated can we get with the levers that we've got—or is it just that we're stuck with this…
14 Rhagfyr 2022 , Finance Committee
Craffu ar Gyllideb Ddrafft Llywodraeth Cymru ar gyfer 2023-24: Sesiwn dystiolaeth 1
I think Joyce wanted to come in.
14 Rhagfyr 2022 , Finance Committee
Craffu ar Gyllideb Ddrafft Llywodraeth Cymru ar gyfer 2023-24: Sesiwn dystiolaeth 1
Thank you. That's all from me. I'll hand over to Mike.
14 Rhagfyr 2022 , Finance Committee
Craffu ar Gyllideb Ddrafft Llywodraeth Cymru ar gyfer 2023-24: Sesiwn dystiolaeth 1
One hundred and fifty million, was it? Did you say £150 million or £100 million?
14 Rhagfyr 2022 , Finance Committee
Craffu ar Gyllideb Ddrafft Llywodraeth Cymru ar gyfer 2023-24: Sesiwn dystiolaeth 1
Thank you. Peter, did you want to come in?
14 Rhagfyr 2022 , Finance Committee
Craffu ar Gyllideb Ddrafft Llywodraeth Cymru ar gyfer 2023-24: Sesiwn dystiolaeth 1
I'll bring Peter in in a second now. Two questions. The £150 million that you're intending to borrow, obviously interest rates have shot up recently, so how are you factoring the cost of borrowing into the budget? And—it might be a question for Andrew, I'm…
14 Rhagfyr 2022 , Finance Committee
Craffu ar Gyllideb Ddrafft Llywodraeth Cymru ar gyfer 2023-24: Sesiwn dystiolaeth 1
Thank you. So, if we move on to the fiscal levers that we do hold here—tax borrowing and forecasting: what approaches are being proposed in this budget to maximise the funding available to the Welsh Government for 2023-24, in terms of changes to taxation…
14 Rhagfyr 2022 , Finance Committee
Craffu ar Gyllideb Ddrafft Llywodraeth Cymru ar gyfer 2023-24: Sesiwn dystiolaeth 1
Thanks. Okay, thank you very much. Just whilst we're talking about the UK Government, in terms of funding and consequentials allocated in the autumn statement, has there been any improvement in transparency?
14 Rhagfyr 2022 , Finance Committee
Craffu ar Gyllideb Ddrafft Llywodraeth Cymru ar gyfer 2023-24: Sesiwn dystiolaeth 1
Eighty-seven million pounds left there, just in case.
14 Rhagfyr 2022 , Finance Committee
Craffu ar Gyllideb Ddrafft Llywodraeth Cymru ar gyfer 2023-24: Sesiwn dystiolaeth 1
Okay, thank you. So, there's just over £90-odd million? It depends if my sums are correct. No, 80—
14 Rhagfyr 2022 , Finance Committee
Craffu ar Gyllideb Ddrafft Llywodraeth Cymru ar gyfer 2023-24: Sesiwn dystiolaeth 1
Peter.
14 Rhagfyr 2022 , Finance Committee
Craffu ar Gyllideb Ddrafft Llywodraeth Cymru ar gyfer 2023-24: Sesiwn dystiolaeth 1
Okay. Joyce, and then Peter.
14 Rhagfyr 2022 , Finance Committee
Craffu ar Gyllideb Ddrafft Llywodraeth Cymru ar gyfer 2023-24: Sesiwn dystiolaeth 1
And the Wales reserve is currently at what level?
14 Rhagfyr 2022 , Finance Committee
Craffu ar Gyllideb Ddrafft Llywodraeth Cymru ar gyfer 2023-24: Sesiwn dystiolaeth 1
With regard to reserves, you said all the reserves are allocated now, or—
14 Rhagfyr 2022 , Finance Committee
Craffu ar Gyllideb Ddrafft Llywodraeth Cymru ar gyfer 2023-24: Sesiwn dystiolaeth 1
Right. Okay. Fair enough. So, let's move on to funding available to the Welsh Government. So, I'd like to look at the draft budget and transparency of UK Government funding. I know this has been a hot topic for us in the past. What level of reserves are being…
14 Rhagfyr 2022 , Finance Committee
Craffu ar Gyllideb Ddrafft Llywodraeth Cymru ar gyfer 2023-24: Sesiwn dystiolaeth 1
And is that your intention, if you need to?
14 Rhagfyr 2022 , Finance Committee
Craffu ar Gyllideb Ddrafft Llywodraeth Cymru ar gyfer 2023-24: Sesiwn dystiolaeth 1
Right, okay. Yes, that's fine. So, in your outturn report for 2021, it reported His Majesty's Treasury had denied you the flexibility to offset your capital overspend with some of the revenue underspend. Is the Welsh Government still able to switch from…
14 Rhagfyr 2022 , Finance Committee
Craffu ar Gyllideb Ddrafft Llywodraeth Cymru ar gyfer 2023-24: Sesiwn dystiolaeth 1
And is that closer to the eight or closer to the three?
14 Rhagfyr 2022 , Finance Committee
Craffu ar Gyllideb Ddrafft Llywodraeth Cymru ar gyfer 2023-24: Sesiwn dystiolaeth 1
So, just to remind us: what's the average inflation that you've taken across this budget?
14 Rhagfyr 2022 , Finance Committee
Craffu ar Gyllideb Ddrafft Llywodraeth Cymru ar gyfer 2023-24: Sesiwn dystiolaeth 1
Okay. Moving on to the impact of inflation, and in the news in the last couple of days, I think, inflation is dropping a little bit. I'm just wondering if you could give us an idea of where you see inflation over the shorter period, anyway, and then what…
14 Rhagfyr 2022 , Finance Committee
Craffu ar Gyllideb Ddrafft Llywodraeth Cymru ar gyfer 2023-24: Sesiwn dystiolaeth 1
And with making those decisions, is it individual Ministers who have been deciding those issues, deciding those solutions, and then coming back to you, or have you been giving them directions to say, 'Well, you should be extending this term, because this work…
14 Rhagfyr 2022 , Finance Committee
Craffu ar Gyllideb Ddrafft Llywodraeth Cymru ar gyfer 2023-24: Sesiwn dystiolaeth 1
Okay. Thanks, Peter. You talked about maybe pausing or deprioritising some of the funding. What real-terms impact is that going to have on that house building or on the communities for learning? Is that pushing end dates backwards? What's the thought process…
14 Rhagfyr 2022 , Finance Committee
Craffu ar Gyllideb Ddrafft Llywodraeth Cymru ar gyfer 2023-24: Sesiwn dystiolaeth 1
I think Peter wants to come in.
14 Rhagfyr 2022 , Finance Committee
Craffu ar Gyllideb Ddrafft Llywodraeth Cymru ar gyfer 2023-24: Sesiwn dystiolaeth 1
Mike.
