Scottish Parliament

Scotland launch emergency budget review

The Scottish Government has announced that they are to conduct an emergency budget review, with members of an expert panel giving their advice.

Holding their first meeting yesterday, Sir Anton Muscatelli, Professor Frances Ruane and Professor Mike Brewer are to assess the impact of the UK Government’s new approach and how it will affect Scotland.

Deputy First Minister John Swinney said:

“The Scottish Government wants to make sure it gets the very best advice and fresh perspectives as Ministers consider the complex and difficult decisions we face while tackling the challenges ahead.

“The radical shift in UK economic policy announced by the Chancellor has already caused significant economic shock.

“For the benefit of the people and businesses of Scotland, many of whom will find themselves paying higher prices as a result, it is vital that we consider the current situation and potential solutions with care.

“The members off the panel all bring robust economic insight and I am grateful to them for giving their time and expertise as we navigate these uncharted economic waters.”

Sir Anton Muscatelli is currently the Principle of the University of Glasgow, and has held the same role at Heriot-Watt University previously. He has been an adviser to the House of Commons Treasury Select Committee on monetary policy since 2007 and also chairs the Scottish Government’s Standing Council on Europe.

A Research Affiliate at the Economic and Social Research Institute since 2015, Professor Frances Ruane is currently Chair off the National Competitiveness and Productivity Council, representing Ireland on the European Network of National Productivity Boards. Her role on the panel is to provide an external perspective on issues such as the competitiveness of Scotland’s tax regime.

Professor Mike Brewer is currently Chief Economist and the Deputy Chief Executive of the Resolution Foundation, where he oversees all aspects of the Foundation’s research. Having previously worked at the Institute for Fiscal Studies and HM Treasury, Professor Brewer is also currently a visiting Professor at the Department of Social Policy at the London School of Economics.

It has been announced that the results off the Emergency Budget Review will be reported in the week beginning 24th October 2022.

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