Alan Trench on Welsh government borrowing conundrum
28 October 2012 Last updated at 10:38 GMT
The Welsh government has long argued that it has been hampered by not being allowed to borrow money for upgrading big building projects.
This week it was announced that an agreement had been made with the Westminster coalition, which would allow Wales limited borrowing powers.
A condition of the deal is that the Welsh government receives a new source of income from taxes - something which is being considered by the Silk Commission.
Not everybody was impressed, and former Plaid Cymru leader Ieuan Wyn Jones said it meant one man, Alan Trench, had been proved right.
Radio Wales' Sunday Supplement presenter Vaughan Roderick spoke to Mr Trench - an honorary fellow at the School of Social and Political Science at the University of Edinburgh - about Mr Jones' comments.