More people to pay income tax and extra cash for Welsh government, Jeremy Hunt confirms.
The freezing of the point that people start to pay income tax on their income means that many will pay more in tax as their wages rise.
Currently there are 1,490,000 income tax payers in Wales, with 1,290,000 paying the basic rate and 166,000 on the higher rate.Currently only 9,000 pay the additional rate in Wales, although that is likely to grow. Its annual budget is worth around £20bn, but Welsh ministers say soaring inflation has wiped out a big chunk of their spending power, with minsiters expected to set out their spending plans in December.
Welsh government Finance Minister Rebecca Evans said she was "really disappointed" by an Autumn Statement which "just doesn't come close to meeting the gap that we've identified in public service provision". But Mr Glen told reporters: "I think that there is a very significant settlement for the Welsh government that amplifies the advantages of the decisions we've taken in Whitehall and gives them a significant way of mitigating some of the pressures they face."
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