The fiscal framework: 2021 review

Eiser, D. and Roy, G. (2019) The fiscal framework: 2021 review. Fraser of Allander Economic Commentary, 43(2),

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Over the past few years, the Scottish Parliament has been taking on significant additional fiscal and economic responsibilities. Further responsibilities are still to be transferred, principally in the form of major social security powers. Around half of VAT revenues were due to be assigned from next year (2020/21), but given concerns around the robustness of the methodology developed to estimate VAT receipts in Scotland, this appears increasingly likely to be delayed. In around two years' time, the process for how these powers are operationalised - the Fiscal Framework - will be reviewed by the UK and Scottish Governments. Whether the review will be as fraught as the negotiations to reach an agreement back in 2016 remains to be seen.

Item Type:Articles
Keywords:Fraser of Allander, Scotland, economic activity, economic theory, political theory, economics, econometrics and finance(all).
Glasgow Author(s) Enlighten ID:Roy, Professor Graeme
Authors: Eiser, D., and Roy, G.
College/School:College of Social Sciences
College of Social Sciences > Adam Smith Business School > Economics
Journal Name:Fraser of Allander Economic Commentary
Publisher:University of Strathclyde Business School, Fraser of Allander Institute
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