In particular, whether changes to the Scottish Government’s borrowing powers may be appropriate given the following reasons:
The Fiscal Framework is behaving as it was intended to do, though there are some respects in which the Scottish government might seek to negotiate temporary alleviations from HM Treasury;
The rules on borrowing were not designed for the current crisis including the need to develop, cost and announce new measures very rapidly and the potential for each of the four nations of the UK to be affected by coronavirus in very different ways;
To address an immediate shortfall in receipts from Land and Buildings Transaction Tax which is collected by Revenue Scotland and which will be much lower than the SFC forecasts due to the crisis;
To address a differential public finance impact in Scotland compared...