Cameron, Clegg Reportedly to Transfer More Powers From Westminster to Wales

British Prime Minister David Cameron and his deputy Nick Clegg are reportedly expected to set out plans on Friday to transfer more powers from Westminster to Wales.

MOSCOW (Sputnik) — The plans include new possibilities for Welsh ministers to raise cash from the financial markets for major projects, as well as a guaranteed minimum funding for the Welsh government, the BBC reported.

"We want to deliver new powers to Wales so that more decisions are taken closer to the people and give greater responsibility to the Welsh Assembly — that means those who spend taxpayers' money must be more responsible for raising it," Cameron said as quoted by the BBC.

Later in the day, Cameron and Clegg will address their Welsh party conferences.

According to the Liberal Democrats leader Nick Clegg, the new plan is an important step in the United Kingdom’s “journey of decentralization”.

The statements come just 10 weeks prior to the general election in the United Kingdom that will determine, which of the political parties will take forward the new plans set for Wales.

The UK general election is scheduled for May 2015. Voters will elect representatives to sit in the House of Commons – the country's lower house of parliament. The two major rivals in the upcoming elections are the Conservative Party, headed by British Prime Minister David Cameron, and the Labour party led by Ed Miliband.