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The Budget as it relates to Wales

With permission, Mr Brady, I should like to make a statement. As a Scottish MP I have never had the opportunity to attend the Scottish Grand Committee, because it has never met during my time in Parliament, so it is a pleasure to be here at the Welsh Grand Committee. I am sorry if the method of this appearance has caused controversy, but I hope that it at least gives hon. Members a chance to ask questions and make points in relation to the Budget. I am delighted to have the opportunity to set out the action that we, the coalition Government, have taken in the emergency Budget and how this action will support a more prosperous future for all parts of the UK, including Wales. As a Government, we are committed to working with the Welsh Assembly and the Welsh Assembly Government to deliver increased economic prosperity for all in Wales, based on a spirit of mutual respect. Some economic powers are reserved for the Government and some are devolved to the Welsh Assembly, so it is particularly important that we work together to tackle the deficit and increase economic growth. I have already had a constructive meeting with Jane Hutt, the Welsh Assembly Minister for Business and Budget, earlier this month. Yesterday, I gave evidence on the Budget to the Finance Committee of the Scottish Parliament—the first time a Treasury Minister has ever done that in that Parliament. I understand that a similar invitation may be on its way from the Welsh Assembly, and I look forward to responding positively when it arrives.