Fiscal Policy

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In headline terms, the Spending Review looks little different from the public finance forecasts in the summer budget. The Government will achieve a fiscal surplus by the end of this parliament (the first time that this has been achieved since 2001). And total public spending as a percentage of GDP will fall from 40% currently to 36%.
 
But Osborne has managed to achieve this whilst simultaneously being more generous on the spending side.
 
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The Scottish government’s block grant allocation between 2015-16 and 2020-21 was set in the 25th November spending review delivered by the Chancellor of the Exchequer. Current spending will increase from £25.9 billion now, to £26.5 billion in 2019-20. This represents a 5% real cut (equivalent to £1.3 billion). In contrast, due to the UK government’s decision to increase capital spending by £12 billion compared with its plans last July, Scotland’s capital budget will increase from £3 billion to £3.5 billion by 2020-21, an increase of around 10% in real terms.
 
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The proposals within the Scotland Bill - as well as the associated fiscal framework currently being worked out by the UK and Scottish Governments - represent big changes to Scotland’s political system, says Nicola McEwen. However, has enough room been left for the public at the negotiating table? 
 
“With great power comes great responsibility” – in Uncle Ben’s memorable last words to Spiderman. But is the reverse also true? Do great responsibilities bring great power?
 
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Popular pressure for further fiscal devolution from Westminster to Holyrood is less a matter of wanting to pursue a different policy agenda, says David Eiser, and more a matter of who the electorate trusts. 
 
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Why should Scottish MPs vote on English issues, when the same matters are devolved to the Scottish Parliament in Edinburgh? The famous “West Lothian question” became a major theme for the Conservative Party during an election (2015) that might have seen SNP MPs holding the balance of power. Following its victory, the Conservative government produced proposals for “English votes for English laws”. 
 
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  • 20th July 2018

    Richard Parry reviews a fast-evolving situation as the march of time and need to reconcile rhetoric and practicality constrain policy-makers

  • 13th July 2018

    The White Paper published this week talks about the UK Government making ‘sovereign decisions’ to adopt European rules but, as we know from the experience of Norway and Switzerland, this can be an illusory sovereignty when the costs of deviating from the rules is exclusion from the single market or European programmes. CCC Director Professor Michael Keating looks at whether the UK is ready for this kind of deal.

  • 12th July 2018

    Last week the government released its fisheries white paper. While most of the fisheries and Brexit debate centres on quotas and access to waters, there is also an important devolution dimension. Brexit already has profound consequences for the UK’s devolution settlement and fisheries policy is one example of this. So, in addition to communicating its overall vision for post-Brexit fisheries policy, the white paper was also an opportunity for the government to set out how it would see that policy working in the devolved UK.

  • 4th July 2018

    At the same time as Parliament prepares to ‘take back control’ from Brussels, the executive is in fact accruing to itself further control over the legislative process. CCC Fellow Professor Stephen Tierney addresses a number of trends – only some of which are a direct consequence of the unique circumstances of Brexit – which suggest a deeper realignment of institutional power within the constitution and a consequent diminution of Parliament’s legislative power.

  • 27th June 2018

    Faced with a choice between splitting her Cabinet into winners and losers, Theresa May has sought to keep the Brexit crap game going. She does this by avoiding betting on either a hard or soft Brexit. Professor Richard Rose of Strathclyde looks at the high stakes outcomes facing the Prime Minister. .

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