5. When he plans to bring forward legislative proposals to give the Welsh Government borrowing powers. (901097)
Our detailed response to the Silk Commission’s recommendations, which we published on Monday, confirmed that we will include proposals in a draft Wales Bill to give the Welsh Government borrowing powers. We will publish the draft Bill, for pre-legislative scrutiny, in the current parliamentary Session.
I welcome the fact that, after a year’s wait, we finally have a statement from the Secretary of State, but I would like to press him further, as he speaks of details. When will we know the basis on which the Welsh capital borrowing limits will be calculated? There is a precedent in the Scotland Act. Why will he not just say that he will follow that?
I make no apologies for ensuring that the proposal was properly scrutinised. The package we announced is good for Wales and I am glad that it was welcomed by the Welsh Government, who will have new borrowing powers. The borrowing limit that will apply to those powers will be commensurate with the Welsh Government’s access to independent streams of funding to repay the borrowing they incur. The details will be placed on the face of the draft Bill when it is published.
If the National Assembly for Wales is going to have borrowing powers, and if it is going to smell like a Parliament and look like a Parliament, is it not time that it became the National Parliament of Wales?
I am not entirely sure how a Parliament smells.
Order. Noisy and discordant conversations are taking place in the Chamber. I am sure I am not alone in wanting to hear the Secretary of State’s answer to the hon. Member for Lichfield (Michael Fabricant).
We have no plans to change the name of the Welsh Assembly.
In Monday’s statement, the Secretary of State closely tied in borrowing powers with the income tax sharing arrangement between the UK and the Welsh Government. Will he confirm that the proposed sunset clause on the referendum has been dropped?
We have no proposals to put a sunset clause in the Bill.