Current discussions over the Scotland Bill have seen the Chancellor and SNP Westminster leader Angus Robertson at loggerheads over the role of borrowing in national life. Gemma Tetlow of the Institute for Fiscal Studies discusses the approach of the two governments and their likely implications for taxation.
David Bell looks at whether there exists a more stable fiscal settlement between Smith and Full Fiscal Autonomy. Following on from Monday's Part 1.
So if FFA is off the agenda, what stable solution might exist to the vexed issue of Scotland’s fiscal powers? There may be no solution to this question, in which independence is the only likely outcome, but there are a number of points worth making.
The SNP's positioning itself as the anti-austerity party has resonated with parts of the electorate. However, explains David Eiser, analysis of their spending commitments by the IFS suggests that that's not quite how things would work in practice.