Although no detail has yet been finalised, it has been announced that the Welsh Assembly will be given powers to borrow to find capital projects, provided it accepts responsibilities for raising revenue from taxes to repay the debt.
This is being examined by the Silk Commission into the future of devolution.
A part of the deal is that Wales will sit with Westminster at UK government spending reviews which will jointly assess how much is allocated to Wales. This is intended to be a protection against any undue limitation on funding for Wales.
Interestingly, this development is being said to remove the possibility of any scrapping of the Barnett formula for the time being.
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