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Fiscal Commission Working Group - Fiscal Rules and Fiscal Commissions

Fiscal Commission Working Group - Fiscal Rules and Fiscal Commissions

Monday, November 4, 2013

ISBN: 9781782569954

This report from the Fiscal Commission Working Group focuses on the design of an appropriate fiscal framework.

Executive Summary

The creation of Fiscal Commission Working Group was announced in March 2012. The Working Group is helping to shape the development of a robust fiscal and macroeconomic framework for an independent Scotland.

Fiscal rules can play a vital role in promoting fiscal sustainability over both the economic cycle and the longer term. Effective fiscal commissions can enhance the credibility of macroeconomic and fiscal policy and promote fiscal discipline.

This report from the Fiscal Commission Working Group identifies options for fiscal rules for the Scottish Government to consider, and provides international examples to inform the development of a Scottish Fiscal Commission.