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Sunday, August 14, 2022

First Step to Fiscal Framework Review

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Independent report into funding for tax and welfare devolution.

An assessment will be carried out into how funding for the Scottish Government is calculated.

During a meeting of the Joint Exchequer Committee (JEC) the UK and Scottish Governments announced an independent report has been commissioned to evaluate the block grant adjustment funding arrangements for tax and welfare devolution against the principles agreed by the Smith Commission.

The report is expected to be delivered within four months, and its findings will inform a broader review of the Scottish Government’s Fiscal Framework.

Cabinet Secretary for Finance and Economy Kate Forbes said:

“Our experiences of dealing with the pandemic and supporting those struggling with the cost of living crisis clearly demonstrate how difficult it is to take vital action without sufficient fiscal powers.

“The forthcoming review of the Fiscal Framework is an opportunity to consider the future of Scotland’s funding arrangements in the interests of fairness, accountability and sound governance.

“This independent report is an important step in that process and I look forward to hearing from a wide range of stakeholders throughout the process.”

Chief Secretary to the Treasury Simon Clarke said:

“Launching this independent report is an important step in our review of the Fiscal Framework, which ensures fair and sustainable funding for Scotland’s future, and I look forward to reading the findings later this year.

“We are stronger together, and I am committed to continuing to work with the Scottish Government on a way forward, not just for the review of the Fiscal Framework, but across all of the big issues of the day.”

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