An independent commission is to investigate how Wales receives public money from the UK Treasury and look at possible tax-varying powers.
In 2006 the annual budget for the Flemish Government amounts to EUR 19.889 billion (exclusive loans). The vast majority originates from taxes transfered from the Federal government. A growing share of Flemish revenues originates from regional taxes. For the eight time in a row, the budget has shown a positive balance, which will be used tot pay off the debt at an accelarated rate. Expenditure for 2006 is estimated at EUR 19.853 billion. This implies a balance of EUR 36 million. In this way the Flemish Government maintains a strict and orthodox budget policy through which, thanks to debt repayments, resources can be freed for new policy initiatives. This policy also makes it possible to reduce taxes or even abolish certain taxes altogether.
It works for Flanders it can work for Wales.
The independent commission must also investigate the need for Wales to opt out of British spending plans that do not meet Wales's National interest and for the Welsh taxpayers money taken by the British for this spending to be returned to the Welsh Government.