The Joint Exchequer Committee (JEC) met in Edinburgh today, chaired by Derek Mackay, Cabinet Secretary for Finance and the Constitution. The UK government was represented by the Rt Hon David Gauke MP, Chief Secretary to the Treasury.
This was the first meeting of the JEC since the agreement between the Scottish and UK governments of the Scottish Government’s Fiscal Framework in February. The ministers agreed the application of the Block Grant Adjustment and the amount of administration and implementation funding to be transferred for 2017-18; and discussed the levels of programme funding for new powers being transferred from April 2017. Ministers also discussed progress on the implementation of further income tax powers and VAT assignment.
Ministers agreed to meet again in early 2017 to discuss further technical details arising from the fiscal framework in advance of powers beginning to transfer from 1 April 2017.