Committee (4th Day)

Part of Scotland Bill – in the House of Lords at 5:00 pm on 15th March 2012.

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Photo of Lord Forsyth of Drumlean Lord Forsyth of Drumlean Conservative 5:00 pm, 15th March 2012

I am alarmed by that because my noble friend tells me that there is a no-detriment agreement, but there is nothing in the Bill that tells us that. Does it mean, for example, that if the Chancellor of the Exchequer were able to achieve his youthful ambitions and introduce a flat tax in the United Kingdom at, say, 25 per cent, the Scottish Parliament would be compensated for the loss of revenue that would arise? I do not understand what this no-detriment agreement means. Does it mean that if any change in the tax system resulted in a reduction of revenue in England, the Scottish Parliament would be compensated by sending it a cheque for the equivalent amount?