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'Progressive' Welsh tax rates and £15bn budget announced 'Progressive' Welsh tax rates and £15bn budget announced
(35 minutes later)
Higher taxes on home sales above £400,000 have been announced by Finance Secretary Mark Drakeford in his annual budget statement to AMs.Higher taxes on home sales above £400,000 have been announced by Finance Secretary Mark Drakeford in his annual budget statement to AMs.
Welsh ministers will control those taxes from April 2018, with some income tax powers to be devolved a year later.Welsh ministers will control those taxes from April 2018, with some income tax powers to be devolved a year later.
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".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".
The budget also includes more than £400m more for the NHS over two years.The budget also includes more than £400m more for the NHS over two years.
Mr Drakeford said the £15bn budget was put together "under the shadow of further cuts to come," from the UK government.Mr Drakeford said the £15bn budget was put together "under the shadow of further cuts to come," from the UK government.
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.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.
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.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.
The NHS will get an extra £230m in 2018-19 and £220m in 2019-20.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.
As well as varying taxes, the Welsh Government can now also borrow money.As well as varying taxes, the Welsh Government can now also borrow money.
Over the weekend, the Labour-run administration confirmed a two-year deal with Plaid Cymru, covering £210m of spending commitments.Over the weekend, the Labour-run administration confirmed a two-year deal with Plaid Cymru, covering £210m of spending commitments.
Plaid Cymru will abstain on budget votes, ensuring they will clear the Senedd.Plaid Cymru will abstain on budget votes, ensuring they will clear the Senedd.
Welsh Conservative leader Andrew RT Davies accused Plaid Cymru of selling itself out for a "bag of chips". "We have worked hard to protect our valued public services from the worst effects of austerity, and this year is no exception," said Mr Drakeford.
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. "Our spending plans, together with our progressive tax plans, demonstrate our commitment to Taking Wales Forward and delivering prosperity for all during these difficult times."
"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. The Welsh Conservatives said the deal was a "missed opportunity to tackle deep-seated issues like NHS underfunding".
Plaid Cymru is opposed to the black route, the Welsh Government's preferred option for the M4 relief road. Finance spokesman Nick Ramsay, said: "This is the latest in a long line of sadly predictable backroom deals between the nationalists and the Labour Party, and further evidence that a vote for Plaid is a vote for Labour.
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". "Both parties have broken a number of election pledges to make this happen, and the budget makes no mention of Labour's famous commitments on public sector pay or tuition fees.
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." "After 18 years of failed budgets, today's offering is a missed opportunity to tackle deep seated issues and take the difficult decisions necessary to improve living standards in Wales."
"We will not be supporting it - there will be a wide range of elements in this budget we will not be in agreement of."