Abstract
The current fiscal system is well documented (see Bell 2001 for a formal analysis of the Bamett formula, and Bell and Christie 2001 for an analysis of its implications). This paper begins by discussing Scotland's fiscal balance. This is dealt with at much greater length by Goudie (2002, this volume). Next it discusses the importance of local fiscal preferences in designing a new fiscal settlement. Then it considers alternative forms that the new fiscal settlement might take, evaluating commonly proposed alternatives ranging from needs assessment through different levels of fiscal autonomy. The final section concludes.
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