Scotland's Economy

Council of Economic Advisers meets

November 12, 2014 by No Comments | Category Uncategorized

The Council of Economic Advisers has met in Edinburgh. It is the sixth time the council has met.

Members discussed how to maximise the economic impact of new powers for Scotland and how they could be best used to promote competitiveness and tackle inequalities.

The Council agreed that in order for such a process to be meaningful and purposeful, any new framework needs to promote efficient policy decision making and ensure that, once established, the economic and financial costs and benefits of using these new powers are captured in Scotland.

Chair of the Council of Economic Advisers Crawford Beveridge explains:

“Devolving a range of taxes to Scotland will benefit both Scotland and the UK.

“For Scotland, taking ownership and accepting accountability for a much greater proportion of its own finances provides an important opportunity to grow a stronger economy and create a fairer society. In our meeting today, we discussed the principles which could underpin an overarching economic and fiscal framework and which, if followed, would provide a workable model for both Scotland and the UK.

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