In accordance with the fiscal framework agreed by the Welsh and UK Governments, we have been commissioned by the Welsh Government to produce independent forecasts for devolved Welsh taxes. We formally took on this role in April 2019, with this first report being published alongside the Welsh Government’s 2019-20 Draft Budget.
Our first Welsh taxes outlook (WTO) sets out our forecast for each of the devolved Welsh taxes: Welsh rates of income tax, land transaction tax and landfill disposal tax.