Translate the text from English to Welsh.



 
The fiscal framework sets out how the Welsh Government will be funded following the devolution of stamp duty land tax, landfill tax and Welsh rates of income tax.


Under the new arrangements both governments have agreed Wales will have a fair level of funding for the long term.


This will be achieved by:


* The creation of a new needs\-based factor within the Barnett formula to determine changes in the block grant in relation to devolved spending – this builds on the funding floor announced by the UK government at the Spending Review 2015\. The new needs\-based factor will be set at 115% as recommended by the Holtham Commission. While relative funding in Wales remains above the needs level identified by Holtham, changes in funding through the Barnett formula will be multiplied by a transitional factor of 105%.
* Using the comparable model to determine changes in the block grant in relation to tax devolution – this takes into account the relative Welsh tax capacity and, alongside the Barnett formula, ensures population change is treated consistently within Welsh Government block grant funding. This will be applied for stamp duty land tax, landfill tax and each band of income tax.


In addition, the fiscal framework sets out:


* Increased capital borrowing powers \- the Welsh Government’s overall capital borrowing limit will be increased to £1bn and the annual limit to £150m.
* A new Wales reserve – a single Wales reserve will be created to enable the Welsh Government to better manage its budget, including the new tax revenues.
* Independent oversight – there will be a role for independent bodies, where required, to provide input on matters relating to the operation of the fiscal framework.


The framework also paves the way for the introduction of Welsh rates of income tax in April 2019\. This is subject to the removal of the referendum requirement through the Wales Bill, which is currently before Parliament, and the Welsh Government setting out its intention to introduce Welsh rates of income tax to the National Assembly for Wales.


The Welsh Government’s Cabinet Secretary for Finance and Local Government, Mark Drakeford, said:  



> "I am pleased we have been able to reach agreement about a new fiscal framework which puts our funding on a stable and long\-term footing. This is an agreement which is fair to Wales and the rest of the UK.
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> 
> “It ensures fair funding for Wales for the long term, something we have consistently made the case for and builds on the work of the Holtham Commission and the cross\-party Silk Commission.
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> “This package of measures paves the way for partial income tax devolution in Wales.  But crucially it protects our budget from the range of undue risks that could arise following the devolution of tax powers from 2018 and provides additional flexibility to manage our resources.


Chief Secretary to the Treasury, David Gauke, said:  



> “After constructive negotiations, we have agreed a fair and principled long\-term funding settlement with the Welsh Government. The path is now clear for the Welsh Assembly to consent to the implementation of the Wales Bill. We are delivering on our commitments and the Welsh Government can now decide how to use their greater powers and responsibilities to grow and support the Welsh economy.”







Translation:


 
Mae’r fframwaith cyllidol yn datgan sut caiff Llywodraeth Cymru ei chyllido yn dilyn datganoli treth dir y dreth stamp, y dreth dirlenwi a chyfraddau treth incwm Cymru.


O dan y trefniadau newydd mae’r ddwy lywodraeth wedi cytuno y bydd Cymru’n cael lefel deg o gyllid ar gyfer y tymor hir.


Cyflawnir hyn drwy wneud y canlynol:


* Creu ffactor newydd yn seiliedig ar anghenion fel rhan o fformiwla Barnett i benderfynu ar y newidiadau yn y grant bloc mewn perthynas â gwariant datganoledig – mae hyn yn adeiladu ar y llawr cyllido a gyhoeddwyd gan lywodraeth y DU yn Adolygiad Gwariant 2015\. Bydd y ffactor newydd, seiliedig ar anghenion, yn cael ei bennu yn 115% fel yr argymhellir gan Gomisiwn Holtham. Er bod cyllid cymharol yng Nghymru’n parhau’n uwch na’r lefel anghenion a gafodd ei datgan gan Holtham, bydd newidiadau mewn cyllid drwy fformiwla Barnett yn cael eu lluosogi gan ffactor drawsnewidiol o 105%.
* Defnyddio’r model cymharol i benderfynu ar newidiadau yn y grant bloc mewn perthynas â datganoli treth \- mae hyn yn ystyried capasiti treth cymharol Cymru ac, ochr yn ochr â fformiwla Barnett, mae’n sicrhau bod newid poblogaeth yn cael ei drin yn gyson yng nghyllid grant bloc Llywodraeth Cymru. Gweithredir hyn ar gyfer treth dir y dreth stamp, y dreth dirlenwi a phob band o dreth incwm.


Hefyd, mae’r fframwaith cyllidol yn datgan y canlynol:


* Pwerau benthyca cyfalaf cynyddol – bydd uchafswm benthyca cyfalaf  cyffredinol Llywodraeth Cymru yn cynyddu i £1bn a’r uchafswm blynyddol i £150m.
* Cronfa newydd i Gymru – bydd cronfa unigol i Gymru’n cael ei chreu i alluogi Llywodraeth Cymru i reoli ei chyllideb yn well, gan gynnwys y refeniw treth newydd.
* Goruchwyliaeth annibynnol – bydd rôl i gyrff annibynnol ble mae angen, i gyfrannu at faterion perthnasol i weithredu’r fframwaith cyllidol.


Hefyd mae’r fframwaith yn braenaru'r tir ar gyfer cyflwyno cyfraddau treth incwm ar gyfer Cymru ym mis Ebrill 2019\. Mae hyn yn dibynnu ar ddileu gofyniad y refferendwm drwy gyfrwng Bil Cymru, sydd ger bron y Senedd ar hyn o bryd, a Llywodraeth Cymru’n datgan ei bwriad i gyflwyno cyfraddau treth incwm Cymru i Gynulliad Cenedlaethol Cymru.   


Dywedodd Ysgrifennydd y Cabinet dros Gyllid a Llywodraeth Leol yn Llywodraeth Cymru, Mark Drakeford:  



> “Rydw i’n falch ein bod ni wedi gallu dod i gytundeb am fframwaith cyllidol newydd sy’n rhoi sylfaen tymor hir a sefydlog i’n cyllid ni. Dyma gytundeb sy’n deg i Gymru ac i weddill y DU.              
> 
> 
> “Mae’n sicrhau cyllid teg i Gymru ar gyfer y tymor hir, rhywbeth yr ydyn ni wedi gofyn amdano’n gyson, ac mae’n adeiladu ar waith Comisiwn Holtham a’r comisiwn trawsbleidiol, Comisiwn Silk.        
> 
> 
> “Mae’r pecyn yma o fesurau’n braenaru’r tir ar gyfer datganoli treth incwm yn rhannol yng Nghymru. Ond, yn allweddol, mae’n gwarchod ein cyllideb rhag yr ystod o risgiau diangen a allai godi yn dilyn datganoli pwerau trethu o 2018 ymlaen ac mae’n darparu hyblygrwydd ychwanegol i reoli ein hadnoddau.”


Dywedodd Prif Ysgrifennydd y Trysorlys, y Gwir Anrh. David Gauke:



> “Ar ôl trafodaethau adeiladol, rydyn ni wedi cytuno ar setliad cyllidol teg a thymor hir gyda Llywodraeth Cymru. Mae’r llwybr yn glir yn awr i Gynulliad Cymru ganiatáu gweithredu Bil Cymru. Rydyn ni’n cyflawni ar ein hymrwymiadau a gall Llywodraeth Cymru benderfynu yn awr sut i ddefnyddio ei phwerau a’i chyfrifoldebau ychwanegol i ddatblygu a chefnogi economi Cymru.”