Lords to question former IMF director on the economics of devolution
The House of Lords Economic Affairs Committee will next week take evidence from Carlo Cottarelli, an expert on the economics of devolution and former Director of Fiscal Affairs at the International Monetary Fund.
The session will form part of the Committee's inquiry into the devolution of public finances in the UK.
Areas the Committee will question Mr Cottarelli on include:
- What are the best taxes to devolve to sub-national governments and why?
- Would it be sensible for the Scottish Parliament to retain all income tax raised in Scotland? Are there other examples of sub-national governments retaining all income tax?
- What principles should govern borrowing by sub-national governments?
- How successful have ‘no bailout' rules between national and sub-national governments been? Should the UK legislate for such a rule in Scotland?
- Are there any examples of countries that have undergone a transition as proposed for the UK of moving from a centralised state to a more federal structure?
The evidence session will start at 11:35am on Tuesday 27 October in Committee Room 2 of the House of Lords.