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Further powers unveiled

The UK Government announces full devolution of business rates to Wales and the power to create new Welsh taxes.

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Alexander: Wales income tax powers 'a massive change'

"I think it is reasonable to say that we should have a similar model of devolution of income tax in different parts of the United Kingdom" says Chief Secretary to the Treasury Danny Alexander MP.

"I think it's a model that gives a lot of power to the Welsh Assembly".

"I think it's also right though, to say that we want to protect the proper functioning of the labour market across the UK, and that means the structure of the tax system - particularly the income tax personal allowance... should be organised UK-wide".

"I recognise that it's not quite what Silk recommended, but it's also a massive change from the current situation in Wales.

"It's a new power, it's one that offers huge economic opportunities as well as greater financial accountability to the people of Wales."

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