Kate Forbes

Ms Forbes said: “We have faced unprecedented economic and fiscal upheaval as a consequence of the pandemic and Brexit. As a result, Scotland’s Fiscal Framework has been thoroughly tested and, in some areas, found wanting.

“I look forward to constructive discussions today with the Chief Secretary to the Treasury, reflecting on how the Framework has performed and considering ways it can be improved.

“I believe that the forthcoming Framework review offers a much-needed opportunity to evaluate and scrutinise the current arrangements. It is important to consider a wide range of issues to ensure that the Scottish Government and Parliament have the necessary powers and flexibilities to support sound financial planning and manage risk.”

She added: “This approach is supported by the Scottish Parliament’s Finance and Public Administration Committee and the Social Justice and Social Security Committee.

“The review process itself should also be broad in scope, drawing on views beyond government, if we are to properly capture current issues and ensure the framework is fit for purpose in future.

“I hope we are able to make progress today on jointly commissioning the independent report which will inform the review.”