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Reacting to today’s UK Government announcement on tax powers, Wales TUC General Secretary Martin Mansfield said: “We welcome the devolution of powers allowing the Welsh Government to raise funds for investment in jobs and growth. There are many large scale infrastructure projects within the responsibility of the National Assembly, such as the M4 improvement, which the Welsh Government have long wanted to progress - they now have the ability to do so. "It is disappointing that air passenger duty will not be set in Wales, this would have helped the Welsh Government deal with the impact of previous private sector mismanagement at Cardiff Airport. "The principle of devolving income tax is positive and we will play our full part in that debate when the people of Wales decide. However the overall financing of Wales must be properly resolved before this becomes a viable option. The outdated Barnett formula continues to short change us and must be modernised as a first step. "We should also not forget that this UK Government has slashed Wales' finances to pursue its ideology of austerity. The whole of the UK is being held back and Westminster economic policy must change if Wales is to reach its true potential. "Today is an overdue but significant step forward for devolution in Wales. Stage two of the Silk Commission should not be held up by more UK Coalition infighting – the issues at stake are too important. Wales deserves a devolution settlement on a par with the other devolved nations within the UK.“ ends