For our second debate we again use some recent results from an opinion poll. This time, the poll was commissioned by this Commission. We found that of the 1,000 Welsh residents asked, 66 percent were in favour of the Welsh Government being able to borrow money to fund capital projects such as building roads and hospitals. A summary of the results are available here on our web-site. This is another very important issue that the Commission is looking at.
Let’s have a look at some of the arguments for and against……
At the moment the amount of money that the Welsh Government can spend on capital projects such as roads and hospitals is decided by the UK Government and is based on what will be spent on such projects in England. Some argue that the Welsh Government should be able to decide how much to spend on capital projects and if they could borrow money then they would have greater flexibility on when and how much to spend.
Some people also argue that if their local authority can borrow it seems odd that the Welsh Government cannot.
Those against the Welsh Government being able to borrow argue that the Welsh Government should only spend what they have and that borrowing money will just mean we the Welsh Government will have to pay the money back plus the interest. They also argue that you only have to look at Greece to show you the problems caused by excessive borrowing by Governments.
So, what do you think?
If you agree with the 66 percent in the opinion poll that think that the Welsh Government should be able to borrow, do you think that the amount they can borrow should be decided by the UK Government or decided by the Welsh Government? Do you think the Welsh Government should be able to issue their own bonds? Or should the Welsh Government only be allowed to borrow via the UK Government?
If you don’t share the opinions of those 66 percent in the survey then tell us. Why don’t you think the Welsh Government should be able to borrow money?
Have your say.