As you can see above, the Constitution lists taxing, spending, defense and borrowing powers together.
FORBES: King Obama: Are We In Danger Of An Imperial Presidency?
The SNP wants greater borrowing powers, control over corporation tax and devolution of the Crown Estates.
First, borrowing powers can be appropriate and necessary to reflect and manage the increased responsibility for raising revenue.
Lord Wigley said the UK government should quickly give the Welsh government borrowing powers to fund capital investment.
BBC: Peers discuss whether Wales should have taxation powers
Chief Secretary to the Treasury Danny Alexander said the in-principle agreement to devolve capital borrowing powers was "an important step forward".
The Silk Commission considering further devolution has said there is a strong case for giving limited tax and borrowing powers to Wales.
The Treasury has agreed that Welsh minister should have limited borrowing powers.
BBC: Commission calls for Welsh government income tax powers
The assembly is unusual, if not unique, in having law-making and spending powers, but not tax and borrowing powers, according to the commission's report.
BBC: Commission calls for Welsh government income tax powers
The Welsh Government have been talking to the Treasury for months now about their initial financial objective, which is to secure borrowing powers for Wales.
Mr Jones said that Wales would be at a competitive disadvantage to the rest of the UK if the assembly did not acquire borrowing powers.
The Welsh government cannot borrow money itself, although it has an agreement with the Treasury to give it some limited borrowing powers in the future.
The Welsh government is set to get some limited borrowing powers and it is exploring other ways of paying for key projects like new roads.
Borrowing powers for the Welsh Government for the first time?
In a deal struck between Westminster and Holyrood during the committee stage of the bill, there will be a new Scottish rate of income tax and new borrowing powers.
The commission is looking at what tax and borrowing powers should be devolved, and how the financial accountability of the Welsh assembly and the Welsh government may be improved.
He did indicate the government's support for the Welsh government to acquire borrowing powers which would be "commensurate" with any revenue stream it acquires through the devolution of minor taxes.
Labour says the failure of the government's economic policy is undermining its agenda and its Green Investment Bank will not have full borrowing powers to fund low-carbon projects until 2016.
Well Carwyn has come up with this suggestion: implementing the Silk Commission's recommendations on limited tax raising and borrowing powers for the Welsh Government - sooner rather than later.
There was a pressing need to give the Welsh government borrowing powers, he argued, citing a big cut in its capital spending budget as a result of a UK-wide public spending squeeze.
Mr Jones has written to Mr Osborne warning him that a failure to implement tax and borrowing powers for Wales could make a yes vote in the Scottish independence referendum more likely.
Separate discussions will continue between the UK Government and the Welsh Government on Holtham's proposals for funding reform for Wales and they will be extended to include the operation of existing borrowing powers.
Mr Harvie said he implored the SNP administration to use local government borrowing powers to invest in publicly owned renewables so that Scotland can get the economic benefit as well as clean energy.
So what happens to the concordat with councils, particularly if they are to be pushed into another year of council tax freeze, and to use their borrowing powers to fill the capital spend gap?
During first minister's question time Mr Salmond said Scotland's two largest parties should unite to demand new borrowing powers, capital acceleration and Olympic 2012 consequentials, which he said were denied by the last Westminster administration.
Until we know what the cross-party Commission is going to come up with (date for your diary, November 19th) we don't know whether the borrowing powers that were offered today in principle will actually happen.
Having ticked off one purchase on his London shopping list, Mr Salmond is likely to renew his focus on other items - including control of corporation tax and alcohol excise duties along with wider borrowing powers.
They want borrowing powers, control over company taxation (perhaps with a view to a tax-cutting strategy) and control over the Crown Estate in Scotland (which has implications for what goes on in coastal waters and harbours).
Shadow Welsh Secretary Owen Smith, who has previously been cautious about Wales acquiring income tax powers, said Labour wanted a new law to implement the Silk commission to give the Welsh government "desperately needed" borrowing powers.
But she said it was important to recognise that the UK government had agreed in principle to borrowing powers for the assembly and could anticipate giving the assembly the right to raise taxes to offset those powers.
BBC: Peers discuss whether Wales should have taxation powers
"Silk is where the rubber hits the road for Wales right now, " said Mr Smith, who said Labour support the devolution of taxes such as air passenger duty and the aggregates levy if it unlocks borrowing powers.
应用推荐