POLICY ESSAYS

Summary

This paper argues that while Wales has made notable strides in devolution—particularly through the Wales Acts of 2014 and 2017—its fiscal autonomy remains limited by UK Treasury constraints, notably capped borrowing powers and the absence of independent credit access. Comparing Wales to subnational governments in federal systems like Quebec or U.S. states, the paper contends that materially greater fiscal autonomy—defined as full tax-setting authority, sovereign-style borrowing, and an independent treasury—is essential for Wales to sustainably finance infrastructure and deliver on levelling-up ambitions. Without such reforms, Welsh devolution risks remaining superficial, lacking the fiscal tools needed for genuine economic self-determination.

Cited Document:

Mayaki, A. A. B. (2025) 'Flirting with Federalism - Materially Greater Fiscal Autonomy through Welsh Devolution - Fabian Society' (March 30, 2025)

Summary

In my first Fabian Society policy paper, written for the Society's Local Government and Housing (LGH) Policy Group, I have attempted to carefully suggest, and to an extent, solve a problem created by an imbalance between the Autumn Budget announcement by the new Chancellor (for energy consumers), given externalities and efficiency-related issues that are prevalent to tenants in Southwark. Now Labour is in Government, this report highlights a key pathway and opportunity for Labour's Net Zero and Energy Security Government Department and Labour's Council leaders in Southwark. I anticipate this essay will spur discussion on renewal toward the Chancellor's target of meeting the Treasury's projected expenditure and decarbonizing Council residences in the Camberwell and Peckham constituency.

Cited Document:

Mayaki, A. A. B. (2024) 'The Autumn Budget Reviewed For Energy Consumers - An LGH Members' Policy Group Essay' (November 11, 2024)