Property Development: Taxation

Summary

To ask the Chancellor of the Exchequer, how much funding the Welsh Government (a) has received and (b) is forecast to receive in additional Barnett Formula consequential funding as a result of income raised via the Residential Property Developer Tax.

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Timeline

1. 14 October 2024

   Written question

   To ask the Chancellor of the Exchequer, how much funding the Welsh Government (a) has received and (b) is forecast to receive in additional Barnett Formula consequential funding as a result of income raised via the Residential Property Developer Tax.

   Source: Commons

2. 22 October 2024

   Answer

   The Residential Property Developer Tax is a UK-wide tax. UK-wide tax revenue goes into the UK Consolidated Fund. The Barnett formula then applies to changes in UK Government departmental budgets. The Welsh Government receives around 20% more funding per p...

   Source: Written answer

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• · Treasury · Answering body

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