Have your say in the development of potential new Welsh taxes

He is urging people and organisations to come forward with ideas which could be developed into new Welsh taxes.

The Wales Act 2014 provides the Welsh Government with powers to put forward proposals for the development of new taxes in areas of devolved responsibility. These proposals must be agreed by the National Assembly, UK Government and both the House of Commons and the House of Lords.

During a debate in the Senedd today, the Finance Secretary will outline his intention to test the new Wales Act powers and outline some of the tax ideas which have already been put forward by the Bevan Foundation. These include ideas around tourism and takeaway packaging and funding social care.  

The Finance Secretary will also suggest that taxation could be used to change behaviours or to discourage activity which has negative social impacts.

The debate follows the passage of two tax Bills by the National Assembly for Wales, which pave the way for the introduction of two devolved taxes in April 2018 – land transaction tax, which replaces stamp duty land tax and landfill disposals tax, which replaces landfill tax.

Professor Drakeford will say:

“In nine months’ time the Welsh Government will raise our own taxes for the first time in almost 800 years. It marks a new relationship between the Welsh Government, the National Assembly, the Welsh taxpayer and devolved public services.

“The power to propose new taxes is an important lever, which we can use to change behaviours and deliver improvements for our communities. That is why I want to start a genuine debate about how we use these powers to support our commitment to fairness, wellbeing and growth.

“A number of ideas have already been put forward in the Bevan Foundation’s report Tax for Good. Other ideas for new taxes to support Welsh ideas, such as a tax to fund social care have also been suggested.

“Alternatively, we could use these powers to change behaviour or decrease negative practices, such as targeting land-banking through a levy on unused land.  New taxes also presents us with an opportunity to build on Wales’ strengths, where we could consider taxes which aim to increase levels of recycling or perhaps look at a tourism tax.

“I am keen to consider all ideas and want to start a conversation around new taxes – with all political parties; with the public; businesses and organisations across Wales.  I urge everyone to get involved, share their ideas with us and help us shape future Welsh taxes.”

A shortlist of ideas for new Welsh taxes will be considered in the autumn.

To get involved and put forward your ideas, please email FinancialReformMailbox@wales.gsi.gov.uk .

New measures draw Taiwan people to mainland

Artists from Taiwan and the mainland stage a puppet show during the Ninth Straits Forum in Xiamen, Fujian province, in June. [Photo/ Xinhua]

A growing number of the island’s residents are relocating, lured by new policies, financial incentives and a wider range of opportunities.

‘Since I opened my first store in Sichuan province in December, the mainland’s business potential has exceeded my expectations. I now have four stores,” said Ken Huang, an entrepreneur from Taiwan.

The 37-year-old owner of a handbag brand was among 8,000 people from the island who participated in a weeklong trade exhibition at the Ninth Straits Forum in Xiamen, Fujian province, last month. Most of the attendees were seeking opportunities to expand their businesses in the mainland and exploring the possibility of trading internationally.

Last month, communications and exchanges between people on both sides of the Taiwan Straits continued to rise, despite recent setbacks in political ties.

Although tourism and business activity are developing rapidly, high-level communications between the mainland and Taiwan have been at a low point for more than a year. The relationship between the two sides had been developing constructively based on the 1992 Consensus, a formula for relations between Taipei and Beijing rooted in the understanding that there is only one China, and opposed to “Taiwan independence”.

Things changed in May last year, when the Democratic Progressive Party in Taiwan denied the existence of the 1992 Consensus, consigning dialogue to the deep freeze. That means the Straits Forum – composed of 21 major trade fairs, symposiums and exhibitions – is now the biggest platform for people from both sides of the Straits to seek career opportunities and better lifestyles.

During a speech at the forum, Yu Zhengsheng, China’s top political adviser, announced a series of new policies to be rolled out in the coming months to benefit Taiwan residents in the mainland, and help them enjoy the same status as mainlanders in terms of financial and public services.

A growing presence

The new policies have been formulated as a response to the growing number of people from Taiwan settling in the mainland. According to a report conducted in April by 1111 Job Bank Co in Taiwan, about 700,000 Taiwan residents live and work outside the island, with about 350,000 of them working in the Chinese mainland. Meanwhile, research conducted in March by the Global Views Survey Research Center in Taiwan suggested that nearly 60 percent of Taiwan residents ages 20 to 29 would be willing to work, study or invest in the mainland.

Last year, the number of new businesses in the mainland owned by Taiwan residents rose 32 percent, and by February, nearly 4,000 sole proprietors from the island were operating in the mainland.

More than 20 new policies will be released in the coming months to help Taiwan residents find their feet in mainland cities.

Seven-year-old stirs up internet with his ‘six-pack’

7-year old Chen Yi boasts amazing physique. [Photo: xdkb.net]

The internet is buzzing about pictures of a 7-year old who is sporting the physique of a world-class athlete.

Local internet site xdkb.net interviewed Chen Yi after he dominated a gymnastics meet in Zhejiang’s capital, Hangzhou, recently.

While Chen Yi won six gold medals and one silver, what have made the headlines are the pictures of him posing!

The boy’s mother, Zhang Hongyu, said that her son was born with innate athletic talent. She claims that when Chen Yi was just 2 years old, he could do a pull-up with just one arm. “He started walking when he was just 11-months old, and he learned to ride a bicycle before kindergarten,” Zhang recalled with a proud smile on her face.

Chen Yi was accepted into the local gymnastics school at the age of five. He now lives at school and only goes home during the weekends. Although his training is tough and intensive, his mother says he never considers giving up.

Asked how he was able to develop his physique, Zhang credits the training her son is going through. “There is nothing special about his diet,” says Zhang “Just like other normal kids, Chen Yi eats around a dozen dumplings for a meal. He also enjoys vegetables, such as cucumber and lettuce.”