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| 'Progressive' Welsh tax rates and £15bn budget announced | 'Progressive' Welsh tax rates and £15bn budget announced |
| (35 minutes later) | |
| People buying homes of up to £400,000 will pay the same or less tax on the sale, Finance Secretary Mark Drakeford has announced in his budget statement. | |
| Welsh ministers will control land transaction tax (LTT), which replaces stamp duty in Wales, from April 2018. | |
| Home sales up to £150,000 will be tax free but there will be higher rates above £400,000 in a "progressive approach", Mr Drakeford said. | |
| 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. |
| But the figure is lower than the amount experts predict the service needs to keep up rising costs. | |
| 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. |
| The new LTT rates will be: | |
| The new rates for Land Transaction Tax will be: | |
| 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, which officials said represented an increase of around 1% in real terms. | |
| Councils will see a cut of between 1.5% and 2% in their funding - slightly worse than the settlement they had last year. | |
| 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. |
| "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. | "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. |
| "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." | "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." |
| The Welsh Conservatives said the deal was a "missed opportunity to tackle deep-seated issues like NHS underfunding". | The Welsh Conservatives said the deal was a "missed opportunity to tackle deep-seated issues like NHS underfunding". |
| 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. | 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. |
| "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. | "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. |
| "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." | "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." |
| Plaid Cymru finance spokesman Adam Price said his party had secured a deal that would "deliver benefits to communities in every part of Wales", but added: "This is Labour's budget and it will have to answer to the people of Wales as to why it is failing to deliver on its manifesto commitments such as lifting the pay cap and stopping the rise in tuition fees." | |
| He claimed such omissions had "made the void between Plaid Cymru and Labour more and more apparent and has made future co-operation between the parties more and more unlikely". |