Wales would have been '£1bn worse off' with own tax powers

The Welsh government would be about £1bn worse off had it been responsible for raising some of its budget through taxes over the last four years, the shadow Welsh secretary said.

Owen Smith said a shrinking tax base due to lots of low-wage jobs should "start alarm bells" about proposals to devolve tax-varying powers.

The UK government's Wales Bill would hand over powers for some taxes.

They would include partial control of income tax after a referendum.