Meeting of the Parliament (Hybrid) 28 January 2021
That point about the fiscal framework has actually now been recognised across the chamber. The cross-party Finance and Constitution Committee and independent stakeholders have recognised that the fiscal framework was already proving to be insufficient before Covid, and that the UK Government’s denial of any temporary fiscal flexibility to manage the volatility during the pandemic has compounded our financial challenge.
There is an opportunity to review the fiscal framework. Today, I announced that we will have some additional flexibilities next year. Those are welcome, but they are temporary and do not go far enough. For the sake of businesses and public services, it is important that we can manage the spending that we have available and do so in a flexible way.