Statement from today’s meeting.
The Joint Exchequer Committee met in Edinburgh today, chaired by John Swinney MSP, Deputy First Minister and Cabinet Secretary for Finance, Constitution and Economy. The UK Government was represented by the Chief Secretary to the Treasury, Rt Hon Greg Hands MP.
This was the sixth meeting of the JEC since the publication of the Smith Commission report. The Ministers continued their discussion on the methodologies for the Block Grant Adjustment and also discussed administration and implementation costs associated with devolution of new powers. The Ministers also reviewed and agreed the over-arching structure of the fiscal framework document.
Both Ministers agreed to meet again shortly in order to make further progress in the negotiations.