Communist Party of Britain
The Welsh Parliament needs the powers to raise funds and invest in local and regional economies. Too many of our communities have suffered decades of neglect. This cannot continue. The Senedd and local authorities must have greater freedom from central government and Whitehall to raise funds from the low-interest Public Works Loan Board and in the capital markets. The Council Tax should be replaced by a local income tax based on the ability to pay. This will end the unfairness inflicted on low-income households. As a result of Brexit, EU rules limiting the right of devolved and local government to award public procurement contracts locally no longer apply. That new power must be fully devolved to the Senedd, so that preference can be given to supporting jobs and businesses in our local communities. Leaving the EU also enables the Bank of England to extend credit and bond purchase facilities to…
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FINANCIAL POWERS