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Welsh tax rates and £15bn budget to be published 'Progressive' Welsh tax rates and £15bn budget announced
(about 4 hours later)
Spending plans worth around £15bn will be announced when the Welsh Government outlines its draft budget later. Higher taxes on home sales above £400,000 have been announced by Finance Secretary Mark Drakeford in his annual budget statement to AMs.
For the first time, it will set rates and bands for newly-devolved taxes to be paid from April 2018. Welsh ministers will control those taxes from April 2018, with some income tax powers to be devolved a year later.
Ministers now have powers over landfill tax and land transaction tax, which has replaced stamp duty in Wales. Mr Drakeford said people buying homes of up to £400,000 would pay the same or less tax than currently in a "progressive approach to taxation".
Finance Secretary Mark Drakeford said he had tried to prioritise pledges to build 20,000 more affordable homes and offer parents more free childcare. The budget also includes more than £400m more for the NHS over two years.
Headline figures for each department will be announced, but a detailed breakdown of spending will not be published until later this month. Mr Drakeford said the £15bn budget was put together "under the shadow of further cuts to come," from the UK government.
As well as varying taxes, the Welsh Government can now also borrow money. Despite taking over some tax powers, the vast majority of the Welsh Government's budget comes in the form of a grant from the Treasury.
Mr Drakeford called it a "very important and significant milestone" for devolution. Tuesday's budget also includes £340m towards for a scheme to build 20,000 new homes, and £50m for a new railway station in Llanwern, Newport.
Some powers over income tax will be devolved in 2019. The NHS will get an extra £230m in 2018-19 and £220m in 2019-20.
A recent report by think tanks based at Cardiff University warned how commitments to protect the NHS, social services and schools had put other unprotected services under more pressure.A recent report by think tanks based at Cardiff University warned how commitments to protect the NHS, social services and schools had put other unprotected services under more pressure.
But Mr Drakeford said: "I don't think it's sensible to think about the budget as a choice between different services. As well as varying taxes, the Welsh Government can now also borrow money.
"Our aim is to think of what matters to people in Wales and then to try to protect everything they need as best we can - even in these most difficult circumstances." Over the weekend, the Labour-run administration confirmed a two-year deal with Plaid Cymru, covering £210m of spending commitments.
Labour has already brokered a deal with Plaid Cymru to make sure the budget passes this year and next. Plaid Cymru will abstain on budget votes, ensuring they will clear the Senedd.
Worth around £210m, it includes agreements to spend money on medical training in north Wales and increase funding for mental health.
Welsh Conservative leader Andrew RT Davies accused Plaid Cymru of selling itself out for a "bag of chips".Welsh Conservative leader Andrew RT Davies accused Plaid Cymru of selling itself out for a "bag of chips".
He said the agreement posed questions "over what support the Plaid Cymru group are now giving to the M4 relief road" - a proposed new £1bn motorway around Newport.He said the agreement posed questions "over what support the Plaid Cymru group are now giving to the M4 relief road" - a proposed new £1bn motorway around Newport.
"One would assume, as it's a two-year deal, there would be substantial monies allocated to both these budgets, if the public inquiry gives the green light to that road progressing", he said."One would assume, as it's a two-year deal, there would be substantial monies allocated to both these budgets, if the public inquiry gives the green light to that road progressing", he said.
Plaid Cymru is opposed to the black route, the Welsh Government's preferred option for the M4 relief road.Plaid Cymru is opposed to the black route, the Welsh Government's preferred option for the M4 relief road.
AM Rhun ap Iorwerth dismissed Tory criticism of its deal, saying a commitment not to cut the Supporting People grants for vulnerable individuals was "not a bag of chips".AM Rhun ap Iorwerth dismissed Tory criticism of its deal, saying a commitment not to cut the Supporting People grants for vulnerable individuals was "not a bag of chips".
On the matter of whether Plaid supported Labour's plans for the M4, he said: "This is not our budget, this is Labour's budget."On the matter of whether Plaid supported Labour's plans for the M4, he said: "This is not our budget, this is Labour's budget."
"We will not be supporting it - there will be a wide range of elements in this budget we will not be in agreement of.""We will not be supporting it - there will be a wide range of elements in this budget we will not be in agreement of."
Plaid Cymru will not vote in support of the 2017 and 2018 budgets, but will allow them to pass by abstaining.