The Joint Exchequer Committee met today in London. The UK Government was represented by the Chief Secretary to the Treasury, the Rt Hon Danny Alexander MP, the Secretary of State for Scotland, Michael Moore MP and the Exchequer Secretary, David Gauke MP. The Scottish Government was represented by the Cabinet Secretary for Finance, Employment and Sustainable Growth, John Swinney MSP and the Cabinet Secretary for Parliamentary Business and Government Strategy, Bruce Crawford MSP.
This was the second meeting of the JEC and the first since the Scotland Act 2012 received Royal Assent.
The Committee noted this and focused discussion on implementation of the financial provisions of the Act. It considered the high-level milestones for implementation and heard an update on preparations for introduction of the Scottish Rate of Income Tax by HMRC. Ministers of both governments agreed the importance of ensuring appropriate accountability as part of these arrangements.
The Scottish Government provided a brief update on its proposals for the fully devolved taxes. The Committee also discussed the new taxation provision and agreed the principles for consideration of new taxation proposals.
The next meeting of the JEC will take place before the end of 2012, in Edinburgh, chaired by the Exchequer Secretary.