Chief Secretary to the Treasury questioned on fiscal framework
29 January 2016
- Watch live: Revising Scotland's fiscal framework evidence
- Inquiry: Revising Scotland's fiscal framework
- Scottish Affairs Committee
Wednesday 3 February 2016, Committee Room 18, Palace of Westminster
- Rt Hon Greg Hands, Chief Secretary to the Treasury
- Ms Lindsey Whyte, Deputy Director, Devolution, HM Treasury
Committee Chair Pete Wishart said:
"The clock is ticking in securing a deal on the fiscal framework and we need to probe the Chief Secretary to the Treasury on why there seems to be an impasse.
This is the first time that the Government has given direct evidence to a Parliamentary committee on the fiscal framework and it is important we get a sense of what they see as the key issues. With a deadline of 12 February close at hand, we will be seeking assurances from Mr Hands that a deal will be reached in time."
Known as the "fiscal framework", this mechanism is arguably the most important, and complex, part of the latest round of devolution. The fiscal framework will determine how much the block grant, Scotland's primary source of funding, will be affected by the revenue and spending powers that are being devolved under Scotland Bill.
It will set out the borrowing limits for the Scottish Government and ensure that the actions of one Government will not cause financial detriment to the other.
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