Financial 'freedom and responsibility' for Wales

Chief Secretary to the Treasury Danny Alexander says the UK government is giving Wales more "freedom and responsibility" to manage its own finances.

His comments follow the first meeting of a joint committee of Welsh and UK ministers set up to discuss the practicalities of devolving financial powers to Cardiff Bay.

Mr Alexander said Welsh ministers could be given the power to raise funds for investment by selling government bonds.

He said progress was being made on financing public services in Wales despite a challenging economic environment.