Scotland’s Fiscal Framework — Statement

Part of the debate – in the House of Lords at 3:55 pm on 24th February 2016.

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Photo of Lord Dunlop Lord Dunlop The Parliamentary Under-Secretary of State for Scotland 3:55 pm, 24th February 2016

Once the review is complete, it will be for the two Governments to reach an agreement. However, I need to say to my noble friend that this is a very significant act of devolution. In future, more than 50% of the Scottish budget will be financed from taxes that are raised in Scotland, and that is a major development.