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Fiscal Framework

Published: 14 Feb 2016 00:01
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Deputy First Minister to have further talks with Chief Secretary.

Deputy First Minister John Swinney will have further talks this week with the Chief Secretary to the Treasury in a final attempt to get a deal on funding for new powers.

Following the Scottish Government's revised offer to the Treasury on the fiscal framework on Friday, Mr Swinney said:

"Following eight months of negotiations, we now have one week to agree a deal if the Scottish Parliament is to be able to effectively scrutinise, take evidence on and debate the fiscal framework.

"The fiscal framework must remain true to Smith Agreement which said the Barnett Formula will remain and that Scotland and the rest of the UK should be no better or worse off as a result of having new powers.

"This week I will discuss our revised offer, which addresses every point the Chief Secretary has raised. It ensures that the Scottish budget will bear financial responsibility for the exercise of the proposed powers, and that taxpayers in the rest of the UK are no better or worse off as a result of the new powers being devolved.

"No-one should be in any doubt that there remain very significant issues that are yet to be resolved. These issues are integral to the Smith Commission agreement and must be fulfilled.

"Our proposal is with the Treasury and I hope and believe we can now agree this issue, and the remaining outstanding issues, this week."