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The Budget as it relates to Wales

That is not something that we are seeking to change in the Budget. It makes a modest contribution, but it is none the less important in the context of overall revenue raising through tax, and it is necessary to reduce the deficit. The gap between what we spend as a country and what we raise in tax is £150 billion. We have to close that gap, and if we fail to act, we will take the much bigger risk of leaving interest rates to rise, which would put us in a position that other countries in Europe have found themselves in. Frankly, we never want those questions to be asked of this country.