Maximal devolution

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

This contribution presents a case against ‘Devo-max’ or full fiscal autonomy. It argues that the incentives that would accrue to Scottish decision-makers with additional tax devolution need to be balanced by some level of fiscal transfers (or fiscal equalisation) from the UK level in the absence of other mechanisms (such as exchange rate adjustments that jurisdictions with their own currency can have) to act as shock absorbers for economic shocks that would affect Scotland disproportionately.
Original languageEnglish
Title of host publicationBeyond Smith
Subtitle of host publicationContributions to the Continuing Process of Scottish Devolution
Place of PublicationEdinburgh
Pages25-28
Number of pages4
Publication statusPublished - 2014

Fingerprint

Fiscal equalization
Devolution
Jurisdiction
Fiscal
Scotland
Incentives
Currency
Decision maker
Fiscal transfers
Tax
Economic shocks
Autonomy
Exchange rates

Keywords

  • devo-max
  • devolution
  • fiscal autonomy

Cite this

Comerford, D. (2014). Maximal devolution. In Beyond Smith: Contributions to the Continuing Process of Scottish Devolution (pp. 25-28). Edinburgh.
Comerford, David. / Maximal devolution. Beyond Smith: Contributions to the Continuing Process of Scottish Devolution. Edinburgh, 2014. pp. 25-28
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Comerford, D 2014, Maximal devolution. in Beyond Smith: Contributions to the Continuing Process of Scottish Devolution. Edinburgh, pp. 25-28.

Maximal devolution. / Comerford, David.

Beyond Smith: Contributions to the Continuing Process of Scottish Devolution. Edinburgh, 2014. p. 25-28.

Research output: Chapter in Book/Report/Conference proceedingChapter

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AB - This contribution presents a case against ‘Devo-max’ or full fiscal autonomy. It argues that the incentives that would accrue to Scottish decision-makers with additional tax devolution need to be balanced by some level of fiscal transfers (or fiscal equalisation) from the UK level in the absence of other mechanisms (such as exchange rate adjustments that jurisdictions with their own currency can have) to act as shock absorbers for economic shocks that would affect Scotland disproportionately.

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KW - fiscal autonomy

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Comerford D. Maximal devolution. In Beyond Smith: Contributions to the Continuing Process of Scottish Devolution. Edinburgh. 2014. p. 25-28